Governor Newsom has signed many bills that influence the cannabis sector by giving relief from federal earnings tax deduction limitations, encouraging minority participation, encouraging union membership, and clarifying some other current regulations.
The bills involve:
- Assembly Bill 37 repeals the limitation on deductions for business enterprise expenditures for cannabis enterprises, which had previously conformed to Internal Income Code section 280E for state tax purposes.
- Senate Bill 595 gives some relief from licensing costs for requires-primarily based applicants and is meant to facilitate minority-owned enterprises.
- Assembly Bill 1529, co-sponsored by the California Cannabis Market Association, modifies the labeling needs on vaporizer cartridges. It facilitates compliance with the needs by creating some sensible modifications to the labeling specifications.
- Assembly Bill 1291, which calls for a labor peace agreement for all enterprises with 20 or extra workers, is created to facilitate union protections for cannabis sector workers, as properly as protections from strikes and other disruption for enterprises. The new law imposes strict timelines to comply by licensees below the threat of loss of their license. California tends to make it really tough to have independent contractors rather of workers, so this provision could have a substantial influence on the unionization of the cannabis sector in California.
- Senate Bill 34 makes it possible for retailers to deliver absolutely free goods to qualifying health-related individuals.