HB211:

Cannabis products; retail sale by certain pharmaceutical processors.

Bill Summary:

Retail sale of cannabis products by certain pharmaceutical
processors; sunset. Allows certain pharmaceutical processors to, under the
oversight of the Board of Pharmacy, sell cannabis products at retail to
unregistered persons who are 21 years of age or older without the need for a
written certification. The bill provides that such sales will be subject to
existing Board of Pharmacy regulations and other requirements set forth in the
bill. The bill requires pharmaceutical processors engaging in such sales to pay
a $1 million fee and collect a 21 percent excise tax, both of which shall
ultimately be allocated to the Virginia Cannabis Control Authority to be used
to assist independent cannabis retailers located in designated rural and urban
opportunity zones. The bill also requires such pharmaceutical processors to
submit and comply with a plan describing how the pharmaceutical processor will,
in its health service area, educate consumers about responsible consumption of
cannabis products and incubate independent cannabis retailers or support and
educate persons that wish to participate in the cannabis market. The bill
directs the Board of Directors of the Virginia Cannabis Control Authority to
promulgate regulations governing sales, cultivation, extraction, processing,
manufacturing, wholesaling, and other related activities conducted pursuant to
the provisions of the bill and provides that, upon the adoption of such
regulations, oversight of such activities shall transfer from the Board of
Pharmacy to the Board of Directors of the Virginia Cannabis Control Authority.
The bill expires when pharmaceutical processors engaging in the sale of
cannabis products pursuant to the provisions of the bill are authorized by the
Virginia Cannabis Control Authority to apply for and be granted licenses to
cultivate, manufacture, wholesale, and sell at retail to consumers 21 years of
age or older retail marijuana and retail marijuana products.