For Immediate Release:
Jan 10, 2020, Sacramento, CA – Governor Gavin Newsom submitted his 2020-21 California state budget proposal to the Legislature today, outlining the $222.2 billion fiscal roadmap for the coming year. The proposed budget demonstrates the administration’s clear intention to invest in and address the issues plaguing California’s cannabis market. In his budget, Governor Newsom set his sights on a simplified and single state cannabis licensing entity and streamlining taxation by consolidating the point of collection for excise taxes at the retailer.
UCBA Board President Jerred Kiloh offers the following statement in response:
“Since legalization, the California cannabis industry and its consumers have struggled to navigate an increasingly complex regulatory landscape – a situation that contributed to the growth of the illicit market and the current accessibility of untested products, as well as an increased cost of compliance to license holders.
Today’s announcement from the Governor marks a turning of the tide and we are encouraged by the efforts outlined to streamline the industry’s regulatory framework and simplify licensing and taxation.
UCBA looks forward to working closely with the administration to ensure that the intended simplification, especially as we shift the majority of taxation burdens onto retailers alone, does not result in undue burden or complications at the dispensary level and that we keep our eyes on the prize – a safe, stable and accessible legal cannabis market in the golden state.”
The United Cannabis Business Association is the premier trade association representing California’s licensed retailers. UCBA works with cannabis cultivators, manufacturers and distributors to establish a strong statewide community and advocate for good policies and reforms that protect and enhance the vitality of our industry.