Treasurer proposes banking fixes for WV medical marijuana program

Treasurer proposes banking fixes for WV medical marijuana program

Published on 5/8/18

West Virginia lawmakers passed the state's medical marijuana program last year with the intention of it beginning summer 2019, but some details of the bill have to be changed to keep the ball rolling until then. As of now there seems to be no way for license applicants, patients, growers, dispensaries, to pay for their application to the state due to conflicts with the vendors and federal law. The State Treasurer John Perdue proposed some changes to the bill that would allow the money to reach the state with one option being a state banking system and another option would create a closed-loop payment program specifically for cannabis. Some legislators prefer the loop system to the banking system, but several other states are also looking into the state bank. The options still need debated and finalized but Perdue's proposal has made life easier for many working in the program. 

“All of these things take time, and we are running out of that,” he said. “So I think we have to handle this issue now, so the regulatory bodies and the institutions that will be providing this medicine will be able to set up.”

Delegate Mike Pushkin, D-Kanawha, co-sponsored the bill with Moore. He said he thinks either of the ideas is viable, and commended Perdue for his help trying to correct the legislation.

“We’re supposed to be accepting application fees for the licenses, and as of right now, there’s no place to put the money,” he said.
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