Pasadena, CA – 420 College, the cannabis Industry’s leading educational institution is ramping up efforts to assist its growing client base in obtaining licenses and shaping ordinances in numerous counties across the state of California.
The Adult Use of Marijuana Act or proposition 64, was a 2016 voter initiative which passed with 57% approval and became law on November 9, 2016. The measure changes California law to legalize the possession, cultivation, and sale of marijuana and applies to individuals over the age of 21.
A 15% excise tax will be collected on every sale which will generate significant revenue for the state of California. The success of this initiative signals a shift in public perception regarding cannabis, medical or otherwise.
It is reasonable to assume that the passing of AUMA will lead to a rapid expansion of the industry in the state. Recreational laws relating to marijuana work to reduce some of the stigma previously associated with the substance and in turn attracts the attention of more investors who are more confident of eventual return on their investments.
420 College is taking an active role in not only educating its students on MCRSA (medical marijuana) and AUMA (recreational marijuana) but also walking them through the very opaque and layered process of obtaining one of the many industry licenses. For reference, there are ten different cultivation license options just under MCRSA alone.
420 College CEO, George Boyadjian, says, “The cannabis industry will see a great deal of expansion over the next two years, almost to the point of saturation. This is why it’s vitally important that people who are serious about success in this business have professionals guide them through proper licensing procedure. The newly formed Bureau of Cannabis Control and CalCannabis will be tasked with regulating the industry as a whole and also approving or denying licenses. Any slip up, even as small as an administrative error will cost valuable time and money and will result in setbacks. 420 College partners with industry leading experts in order to give our students the best chance of success in this competitive industry.”
While the 2016 election brought attention to California’s legalization initiative, states like Washington and Oregon have enjoyed legalization for the last couple of years. 420 College has been instrumental in working with students in these states to shape ordinances and earn licenses in these respective areas as well.
Boyadjian says, “We hope to continue to make an impact in the cannabis industry by lending our expertise to our students so that they, in turn, become industry leaders themselves.”
420 College will hold it’s next educational seminar May 20th-21st in Pasadena, California. For more information visit 420college.org.