Cannabis Industry Has High Hopes for AB 1948
After a tough year, the California cannabis industry is rallying behind an assembly bill that would suspend the cultivation tax and reduce the excise tax on cannabis products.
Assembly Bill 1948 was sponsored by Assemblyman Rob Bonta (D-Alameda) and received a hearing before the Assembly Committee on Revenue and Taxation last week.
“Everyone is just trying to make a living just to get cannabis from the farm into the hands of the consumer,” Tina Gordon, co-founder of Moon-Made Farms in southern Humboldt County, told The Sacramento Bee. She’s supporting AB 1948 along with larger companies.
Some industry officials say this could be a make or break moment for the legal market.