Massey, Colorado - Before making a costly investment in a new medical marijuana business, state Rep. Tom Massey suggests waiting to see what Colorado legislators do in coming months.
With the Colorado legislative session beginning Wednesday, Massey, District 60 Representative from Poncha Springs, said he believes the Legislature is leaning toward a more restrictive interpretation of medical marijuana dispensaries.
"I'd hate to see people making investments in equipment or signing leases on a business that may come under tighter restrictions," Massey said.
Those considering making an investment in a dispensary, he said, should be cautious "about going out on a limb" for a business venture likely to experience increased and tighter regulation.
It's a balancing act, he said, stemming from Colorado voter approval of marijuana use for medicinal purposes while the drug remains an illegal substance under federal law.
In the next session, Massey said legislators must also deal with an estimated $600 million shortfall in state revenue.
He said legislators will be looking at all divisions of state government, from prisons to roads and highways and schools.
Massey said state funding to public schools has been cut by 4.5 percent and an additional cut is likely.
All departments will be asked to pare down budgets.
He said the state has already reduced spending and has taken money on a one-time, stop-gap basis from various funds. At the same time the state has raised fees in areas such as motor vehicle licensing.
NewsHawk: Ganjarden: 420 MAGAZINE ® - Medical Marijuana Publication & Social Networking
Source: The Mountain Mail
Author: Merle Baranczyk
Copyright: 2010 Arkansas Valley Publishing
With the Colorado legislative session beginning Wednesday, Massey, District 60 Representative from Poncha Springs, said he believes the Legislature is leaning toward a more restrictive interpretation of medical marijuana dispensaries.
"I'd hate to see people making investments in equipment or signing leases on a business that may come under tighter restrictions," Massey said.
Those considering making an investment in a dispensary, he said, should be cautious "about going out on a limb" for a business venture likely to experience increased and tighter regulation.
It's a balancing act, he said, stemming from Colorado voter approval of marijuana use for medicinal purposes while the drug remains an illegal substance under federal law.
In the next session, Massey said legislators must also deal with an estimated $600 million shortfall in state revenue.
He said legislators will be looking at all divisions of state government, from prisons to roads and highways and schools.
Massey said state funding to public schools has been cut by 4.5 percent and an additional cut is likely.
All departments will be asked to pare down budgets.
He said the state has already reduced spending and has taken money on a one-time, stop-gap basis from various funds. At the same time the state has raised fees in areas such as motor vehicle licensing.
NewsHawk: Ganjarden: 420 MAGAZINE ® - Medical Marijuana Publication & Social Networking
Source: The Mountain Mail
Author: Merle Baranczyk
Copyright: 2010 Arkansas Valley Publishing
