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Cannabis

Minnesota set to become 23rd state to legalize adult-use cannabis

The people of Minnesota will be able to legally possess, use and grow marijuana at home by August 1, thanks to a bill passed in the state Senate over the weekend.

The bill had already been approved by the House and now heads to the desk of Democratic Governor Tim Walz, who has said he will sign it. The bill passed 34-32 along party lines.

Minnesota becomes the 23rd state to legalize recreational marijuana for adults. Minnesota’s bill applies to people over the age of 21 and limits possession of cannabis flowers to 2 pounds at home and 2 ounces in public.

The bill also establishes a 10% tax on cannabis products, although retail sales are likely at least a year away, according to reports.

Minnesotans who have been convicted of misdemeanor or petty misdemeanor possession would get their records automatically expunged, a process that the Bureau of Criminal Apprehension has estimated it will take until August 2024 to complete.

Those convicted of selling marijuana or other nonviolent marijuana-related offenses could apply to have their records cleared or sentences reduced.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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