Gov. Gavin Newsom is recommending a major overhaul to how California regulates its multibillion-dollar cannabis industry, with changes aimed at streamlining oversight and tax collection included in the proposed state budget he released Friday morning.
Industry leaders are applauding the proposals, which are expected to ultimately make things easier for licensed businesses to navigate the legal market and compete with illicit operators.
“Today’s announcement from the governor marks a turning of the tide,” said Jerred Kiloh, board president for the Los Angeles-based United Cannabis Business Association trade group.
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