cannabisnews.com: Pot Rules Would Require About $500K To Open Shop
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Pot Rules Would Require About $500K To Open Shop
Posted by CN Staff on February 11, 2014 at 06:48:10 PT
By Robert McCoppin, Tribune Reporter
Source: Chicago Tribune
Illinois regulators have come out with proposed requirements for opening medical marijuana grow centers and dispensaries — and they come with a steep price tag that advocates say could be costly for consumers.For dispensaries to sell the pot, state officials proposed a $5,000 nonrefundable application fee, proof of $400,000 in assets, a $30,000 permit fee and a yearly permit renewal fee of $25,000.
For cultivation centers, the Department of Agriculture proposed a $25,000 nonrefundable application fee, $250,000 in liquid assets, payment of $200,000 upon approval of a permit and a renewal fee of $100,000.The costs are sure to eliminate a lot of potential entrepreneurs, said Joseph Friedman, a pharmacist from Lincolnshire who hopes to open a dispensary."Probably 50 percent of the wannabes are now out," he said. "This is going to bring out just the serious players who are well-capitalized and well-credentialed."The 71 pages of proposed regulations for dispensaries, released Friday, are daunting even for established businesses and will likely require close to six figures in additional fees to attorneys, auditors and engineers, said Nick Williams. He is general counsel for Normal, Ill.-based HW Holdings, which owns a chain of eyeglass stores throughout Illinois and is looking to get into the medical marijuana business.Williams' firm favors strict regulations to establish a reputable business, and he anticipates it may take a year of losses before dispensaries turn a profit."A lot of people are going to say, 'My good Lord, this is a lot to come to the table with,'" he said.Chris Lindsey, legislative analyst for the nonprofit advocacy group Marijuana Policy Project, warned that those expenses will be passed on to consumers."The costs appear excessive for cultivation centers," he said. "I would hope regulators will consider what negative impacts these fees would have."Dispensary applicants will be scored on a long list of requirements for their business and security plans, including fingerprinting and criminal background checks on owners, operators and patients, and 24-hour video surveillance that must be viewable online by state police and regulators.A new Illinois law took effect this year to allow medical marijuana for patients diagnosed with any of about three dozen specific medical conditions. But because of the lengthy regulatory process, industry watchers do not expect marijuana to be available to the public until sometime in 2015.The law allows for 22 grow centers and 60 dispensaries spread around the state. Proposed rules call for 13 dispensaries in Chicago; 11 in suburban Cook County; three each in DuPage, Kane, Lake and Will counties; one each in McHenry and DeKalb counties; and one shared between Grundy and Kendall counties.The rest of the state would get one dispensary per Illinois State Police district.Regulators said they welcomed public comment on the proposed rules. Input can be emailed to: FPR.MedicalCannabis illinois.gov For the taxation rules, email: Rev.MCPP illinois.gov and for cultivation center rules, email: AGR.MedicalCannabis illinois.gov Source: Chicago Tribune (IL)Author: Robert McCoppin, Tribune ReporterPublished: February 11, 2014Copyright: 2014 Chicago Tribune Company, LLCWebsite: http://www.chicagotribune.com/URL: http://drugsense.org/url/5gJrH6iKContact: http://drugsense.org/url/IuiAC7IZCannabisNews Medical Marijuana Archiveshttp://cannabisnews.com/news/list/medical.shtml
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Comment #11 posted by Oleg the Tumor on February 12, 2014 at 09:52:19 PT:
This is Insane!
The Future of this world is dependant upon Cannabis being allowed to "Flower", to let all of this plants properties examined at length and put to good use. We need jobs!This will not happen if the only thing valued about the plant is the bud. If we focus on the bud alone (to tax and tax and tax), we ignore its many other uses at our own enviromental risk.How cannabis became illegal cannot be ignored by the present generation.The full story must out, eventually. America's industrial connection to Pre-WWII Germany has been documented since the fall of the Soviet Union.Without the lead additive plant built by an American chemical company, there would have been no Luftwaffe and no Battle of Britian. But that is not what this forum is here for.America is looking for a sign of sanity from its Federal Government and so far, there's not much to see. They are like a flock of angry birds.On the other hand, the people are taking it into their own hands at the ballot box, as we should!
[ Post Comment ]
Comment #10 posted by runruff on February 11, 2014 at 17:54:41 PT
Watch
They are soon to be a laughing stock!Ha ha ha...see, I'm already laughing!
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Comment #9 posted by Paulpot on February 11, 2014 at 17:47:08 PT:
Fascism.
These regs are just blatant fascism.
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Comment #8 posted by FoM on February 11, 2014 at 16:03:25 PT
disvet13
I agree with you. It will be very reasonable in price when it is legal to grow.
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Comment #7 posted by Hope on February 11, 2014 at 14:09:03 PT
"My good Lord..."
Indeed.
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Comment #6 posted by Hope on February 11, 2014 at 14:04:11 PT
Helping the miserable, sick, and dying.
So begrudgingly.So many of the sick are already going through so much.Oh. Silly britches is all I can think.
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Comment #5 posted by Hope on February 11, 2014 at 13:36:05 PT
Wow.
"Dispensary applicants will be scored on a long list of requirements for their business and security plans, including fingerprinting and criminal background checks on owners, operators and patients, and 24-hour video surveillance that must be viewable online by state police and regulators."*sigh* "Fingerprinting and criminal background checks on owners, operators and patients"? Patients, even? That's just so totally over the line that it's just stunning. Wow.
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Comment #4 posted by disvet13 on February 11, 2014 at 10:39:23 PT:
greed by the numbers
can anyone not understand why the lawyers and politicians aren't going to give up their piece of the pie. now just realize that anyone can grow it for pennies and you get complete control of your life. no lies or propaganda from lawyers and politicians, just God and the original Constitution.
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Comment #3 posted by FoM on February 11, 2014 at 07:42:26 PT
My Poor Head
I cannot wrap my head around this at all. It seems like the old expression: Them that have gets.
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Comment #2 posted by runruff on February 11, 2014 at 07:31:28 PT
I pledge allegiance to the avarice of America!
These numbers make my head spin. This not much of a step away from prohibition excet it gives the market over to those who have alrady demonstrated their level of greed.I do not see much of a change in good ol' "Stinky Town" [was once the site of vast onion fields]. It will be black market as usual for many who need it as medicine and all of those who use it for rec.
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Comment #1 posted by HempWorld on February 11, 2014 at 07:23:52 PT
Looks like IL and the surrounding states are
going to have a thriving black market...The more you hinder this industry, the more you invite the black market to remain or to step in...
Hemp Store
[ Post Comment ]
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