HB 1090

Chuck Smith, CEO, Dixie Brands | June 18, 2019

After over two years of a whole lot of time and effort from the industry, House Bill 1090 has passed. Nicknamed the PubCo Bill, it was signed into law by Governor Polis on May 29, 2019. The previous law allowed licenses to Colorado residents and out-of-state business owners with 15 employees or fewer. The bill also loosens laws on outside investments and investments by publicly-traded companies. Frankly, we expected the HB 1090 to pass last year. However, Governor Hickenlooper chose to veto nearly all the cannabis legislation that came across his desk. We’re thrilled to have a more progressive governor who understands the value of this industry. Full speed ahead Next, assembling workshops for stakeholders with the Marijuana Enforcement Division and Department of Revenue ensures that the rules and regulations the law intends to enact are put in place properly. An application for licensing and investing will be developed. This ensures that the proper parties thoroughly vet public companies. There is going to be true and appropriate guardrails and measurements in place to protect public safety. The bill’s main purpose is to allow additional investment to come in from outside the state so that we can continue to expand and grow in this incredible industry that truly took root here in Colorado. I’ve been around here for close to 10 years. In the early days, the path to cannabis legalization wasn’t necessarily a collaborative process. While the key players had the right intentions, the operators ended up bearing the brunt of the …

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