Oklahoma’s cannabis industry is undergoing a seismic shift driven by multiple bills enacted by the state’s legislature. These legislative changes are reshaping the landscape, ushering in new prospects and hurdles for cannabis enterprises across the state. Here is what you will need to know about these new cannabis regulations in Oklahoma.
HB 2095
One of the most important bills is HB 2095, which bolsters adherence within the medical marijuana sector. The Oklahoma Medical Marijuana Authority (OMMA) wields the authority to strip business licenses from tax-evading entities permanently.
Also, licensed commercial growers are barred from hiring undocumented immigrants. This bill authorizes various bodies, including the Oklahoma State Bureau of Narcotics and Dangerous Drugs (OBNDD), to scrutinize and take action against violators in the cannabis industry. While these regulations intend to build integrity with growers and distributors, there are concerns about potential overstepping and lopsided enforcement.
HB 2282
HB 2282 allows the state to levy sanctions and fines on cannabis business license holders, along with a nullification, suspension, or invalidation of registrations for contraventions. Additionally, the state can suspend licenses deemed an “imminent risk to public health or safety.”
Taxation Issues
In the area of taxation, SB 15X and SB 18X bring about some changes. For example, SB 15X introduces a fee increase for cannabis business licensees. While this measure strives to support regulatory efforts, the annual OBNDD fees will be raised from $500 to $2,500, which could pose challenges for small businesses operating on tight margins.
Additionally, SB 18X establishes the Medical Marijuana Tax Fund, which will be used to support the operations of the Oklahoma Medical Marijuana Authority. Along with that, it creates funding for various substance abuse programs across the state.
SB 913
SB 913 brings significant changes for medical marijuana cultivators to provide a surety bond, ensuring financial protection for their designated cultivation zones. This move is aimed at curbing instances of property abandonment, which leads to the state spending money to clean up those sites.
SB 813
SB 813 is a new law that has authorized the OMMA to operate a quality assurance laboratory. This laboratory will be responsible for ensuring that medical marijuana is compliant with regulations, promoting consistency in the market, and instilling confidence in patients.
Cannabis businesses in Oklahoma must adapt to the ever-changing landscape with urgency. The regulations are in constant flux, fees are escalating, and quality assurance measures are becoming more stringent, requiring a laser-like focus on compliance.
Always Remain Compliant with These New Regulations.
Cannabis businesses in Oklahoma must adapt to the changing landscape of laws. These regulations are constantly changing, with escalating fees and more quality assurance measures than ever.
If you are a cannabis business owner in Oklahoma, you need to know about the possible implications of these changes and remain proactive in keeping up with the regulatory standards. With that, you can ensure the longevity and prosperity of businesses within the state’s cannabis industry.
Brune Law Firm Can Help You Understand These New Cannabis Regulations in Oklahoma
If you’re looking for a reliable guide to navigate Oklahoma’s cannabis business industry, reach out to the legal team at the Brune Law Firm. With our extensive knowledge of these ever-changing laws in Oklahoma, you can count on us to assist with all licensing, compliance, and other cannabis-related legal matters for your business.
Contact the Brune Law Firm today to ensure your business thrives amidst these transformative changes. Contact us or call (918)372-3021 to schedule a consultation.