Florida sits poised, anxiously waiting to see if it will join the District of Columbia and the other twenty-one US states that have already legalized marijuana for medicinal use. If voters prove to pass this law (A Right to Medical Marijuana Initiative) in the coming November elections, the sunshine state should receive an estimated $700 million in tax revenue. Even if laws don’t go into effect for a year, as has been the norm for most states that have allowed marijuana for medicinal use, entrepreneurs are already planning on ways to join in on this expanding multi-million dollar industry.
Although legalization in Florida right now is mostly talk and speculation, which has not stopped those interested in capitalizing off cannabis to prepare for impending changes in current legislation. As legalization has not yet occurred, there have been no laws outlined by officials as to exact logistics for setting up business in the industry. There have, however, been entrepreneurs from other states whom have knowledge in the industry that are looking at real estate that may be capitalized on for future businesses that hold potential for medical marijuana.
If Florida voters decide to implement the legalization of medical marijuana into current law, officials may take heed on what other states have done before in establishing rules and regulations regarding businesses involved in the growing and distribution of medical cannabis. As Florida prepares for this monumental change, there are conferences and seminars taking place all over the state that allow those interested in starting a medical marijuana business that allow people to speak directly with lawyers, doctors, and experts in the medical marijuana field specific questions about operating such a business.
Complying with state regulations is the first necessity in operating a dispensary or other business in the medical marijuana arena. As there are no regulations currently set forth by the state of Florida, those interested in operation are gaining knowledge and researching how other states comply with medical marijuana laws. Regulations often vary from state to state on how much cannabis can be contained in a patient’s possession at a given time, with numbers that range from one ounce to up to twenty-four. In all but three states that have legalized marijuana, patients are free to cultivate their own plants for medicinal use. Under the proposed amendment, however, Florida medical marijuana cultivation will be strictly for dispensary use only. Medical conditions that are legal to treat with marijuana vary somewhat from state to state as well. What Florida decides to implement as law will directly influence what regulations are necessary for medical marijuana businesses to follow.
Amendment 2 was written by Florida Senator Jeff Clemens (D) in 2011. Although the bill has been met with rejection from colleagues and peers, he has reintroduced the bill every year since. The bill proposes to legalize marijuana for full scale medicinal use, and its 157 pages outline proposed regulations for the manufacturing, cultivation, distribution, prescribing, and retail sale of medicinal cannabis. The bill leaves the exact details of regulation to the Florida legislature and Department of Health.
If passed, it will be legislature who enacts the laws that pertain specifically to the state, and the Department of Health will have six months to set up the regulatory framework. Once laws are implemented and written out through legislature and the Department of Health, Florida Governor Rick Scott will sign the bill into congress, and marijuana will be legal for medicinal use.
The bill is currently being refined by Clemens this summer before it is reintroduced for the 2014 fall elections. In this refinement he hopes to better define security measures so there are fewer questions of security and safety pertaining to medical marijuana. Clemens also wants to better outline how marijuana dispensaries would be required to operate. By the time the bill is ready to be resubmitted, everything necessary to run a dispensary, or other business related to medical marijuana, should be clearly outlined. There will be many individuals ready to jump into this budding business opportunity.
If one is planning on entrepreneurship, it is important they understand restrictions that have already been established in other states when they are planning on setting up shop. Common restrictions from state to state include:
Location
Medical marijuana dispensaries are by law, to be kept from close vicinity to schools, churches, and child-care facilities. The designated number of feet away these locations must be from an operating cannabis facility varies from state to state as those that are more densely populated will have a number of these locations in a concentrated area. If the Right to Medical Marijuana Initiative passes in November, Florida officials will determine how close a cannabis business may be to any of these operating facilities.
Number of Dispensaries
The number of dispensaries in a given area will also be determined once laws in Florida are implemented that support medical marijuana. If interested in operating a cannabis friendly business, it is pertinent that once laws pass that those interested in operation of such a business determine how many businesses are allowed in their desired area. For example, the state of Massachusetts allows thirty-five dispensaries in the entire state, with no more than five businesses allotted for each county, while only twenty-three dispensaries are regulated for the state of New Mexico.
People Allowed to Operate
Most states place requirements on who can operate and work in medical cannabis dispensaries. By law, those that possess felony drug convictions are not permitted to operate or work for a business that cater to medical marijuana. Those that have a history of violent crimes including assault, domestic violence, and theft are also not permitted to work in the medical marijuana field. If passed, Amendment 2 will more than likely place such restrictions on dispensaries in Florida.
Controlled Inventory and Increased Prosecution
Many state governments that allow the use of medical marijuana have strict controls on inventory and distribution. There are identification numbers for plants in some states that can track cannabis from seed to store. There are also criminal charges enacted if any dispensary owner is caught trafficking cannabis that was intended for medicinal use.
These are just a few of the common restrictions held by other states, however, and with no concrete laws in Florida that have been enacted, people interested in the medical cannabis business are often met with confusion on which steps to take. Fortunately, the creation of the “Medical Marijuana Business of Florida” has been created by lobbyist Jeff Sharkey and his associate.
The corporation was formed so that interested parties in entrepreneurship have access to up-to-date and accurate information about what is happening in the Tallahassee area in concern to medical marijuana and the laws it carries. It also aims to help patients and businesses that might provide services to the medical industry that will grow with the dispensaries in operation.
With November elections looming just around the corner, many anxiously await election results to see if Florida will become the 23rd state to legalize marijuana for medicinal use. Assuming the Florida Right to Medical Marijuana Initiative passes, the future laws and regulations for operating a medical marijuana business have yet to be written and revised by lawmakers. Those interested in cashing in on these Florida cannabis crops will have to patiently wait for the medical marijuana guidelines to be unveiled.