The five-member Cannabis Regulatory Commission will be tasked with governing the industry in New Jersey. It will include three members appointed by Murphy and one each nominated by Senate President Steve Sweeney and Assembly Speaker Craig Coughlin.
The measure will cap the number of statewide cannabis facilities at 37 for the first two years. Towns will be allowed to prohibit marijuana businesses in their communities, and those who choose to allow such businesses to operate will be permitted to collect and keep a 2% tax.
The legislation will provide for certain criminal and civil justice reforms, including the elimination of criminal penalties for marijuana possession. It will also regrade the unlawful distribution and possession of less than five pounds of marijuana or less than one pound of hashish.
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Pintor Marin, Coughlin on Comprehensive Economic Recovery Plan and Tax Incentive Reform Legislation, Measure Clears Legislative Panels December 18, 2020, 5:54 pm | in
Pintor Marin, Coughlin on Comprehensive Economic Recovery Plan and Tax Incentive Reform Legislation, Measure Clears Legislative Panels
(Trenton) – Supporting small businesses, driving sustainable economic growth, and the long-overdue reform of our tax incentives system the legislation sponsored by Assembly Budget Chair Eliana Pintor Marin and Assembly Speaker Craig Coughlin to put New Jersey on a path to economic recovery post-COVID-19 and into the future was approved by the Assembly and Senate Appropriations panel on Friday.
“We worked to develop a comprehensive piece of legislation that will put New Jersey on a path to economic recovery post-COVID-19 and beyond,” said
New Jersey bill allowing health care firm Horizon to form nonprofit holding company awaits governor hometownregister.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hometownregister.com Daily Mail and Mail on Sunday newspapers.
N.J. lawmakers in historic vote pass legal weed bill, which heads to the governor
Updated Dec 17, 2020;
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Years after they began efforts to legalize marijuana for New Jersey adults, lawmakers on Thursday passed a historic bill that establishes rules and regulations for legal cannabis sales and makes the Garden State the first in the region to overhaul its pot laws.
The state Assembly voted 49-24 with six abstentions to pass the bill (S21), and the Senate followed later Thursday, passing it 23-17.
The bill now goes to Gov. Phil Murphy’s desk, who must sign the measure for it to become law.
Nonprofit hospitals in N.J. will continue to avoid paying property taxes under new compromise
Updated Dec 18, 2020;
Most of New Jersey’s hospitals are tax-exempt, nonprofit companies but belong to multi-billion-dollar networks. It’s a fact that has irked dozens of communities that have sued hospitals to pay something for police, fire and other local services they use.
On Thursday, both houses of the state Legislature voted to require nonprofit hospitals to make “community service” payments every year, a compromise that would preserve their tax-exempt status, end the lawsuits and provide property tax relief.
The bill (A1135) is a response to a landmark tax court ruling in 2015 that found Morristown Medical Center operated largely as a for-profit hospital, making it subject to property taxes. The two sides settled on an agreement that will require the hospital pay the town $15.5 million over the next 10 years.