[[{“value”:”
Maryland saw more than $22.3 million in tax revenue from adult-use marijuana sales during the second quarter of 2024—a 52 percent increase compared to the prior quarter—according to state officials.
The state comptroller, Brooke Lierman, announced on Tuesday that cannabis tax dollars totaled $22,357,011 for the second quarter, up from $14,671,110 in the first quarter of the year.
Here’s how that tax revenue is being distributed:
Community Reinvestment and Repair Fund: $7,824,954
Local governments: $1,117,851
Cannabis Public Health Fund: $1,117,851
Cannabis Business Assistance Fund: $1,117,851
State general fund: $11,178,504
These latest figures come about two months after the Maryland Cannabis Administration (MCA) announced that the state had reached a different marijuana milestone, with licensed retailers having sold more than $1 billion worth of legal marijuana products since the adult-use market opened last July.
Meanwhile, the governor of Maryland said last month that as the state works to build upon its marijuana legalization law, he will continue to “advocate for a sane and a standard federal policy,” including banking reform so that small cannabis businesses have access to capital.
Gov. Wes Moore (D) said that while he’s committed to ensuring that social equity is integral to Maryland’s cannabis market, and his recent mass pardon for past marijuana and paraphernalia convictions is part of that, it remains critical that federal reform advances.
—Marijuana Moment is tracking more than 1,500 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.—
The governor has been discussing his vision for cannabis reform frequently over the past couple months, as he promotes his recent mass pardon forgiving more than 175,000 marijuana and paraphernalia convictions.
That clemency was about more than addressing the public policy consequences of criminalization,” Moore said in a separate interview. As someone who was exposed to the criminal legal system at an early age, and having been a medical cannabis patient himself, he said there’s an important personal psychological impact of attaining that relief.
In July, Moore and the president of the NAACP also promoted the state’s historic mass marijuana pardon, which they said would unlock the economic potential of people targeted by criminalization. But the governor also stressed the need to get the word out about next steps for the majority of pardon recipients whose records weren’t automatically expunged by his clemency move.
Moore has also gained praise from the White House and other officials such as Colorado Gov. Jared Polis (D) for his cannabis clemency move.
Aside from cannabis, the governor in May also signed a pair of bills into law to establish a psychedelics task force that will study legal access to substances like psilocybin and DMT.
“}]] Maryland saw more than $22.3 million in tax revenue from adult-use marijuana sales during the second quarter of 2024—a 52 percent increase compared to the prior quarter—according to state officials. The state comptroller, Brooke Lierman, announced on Tuesday that cannabis tax dollars totaled $22,357,011 for the second quarter, up from $14,671,110 in the first quarter Read More