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Dossier Legislative introduced 01-may-2024
Bill introduced in Congress — not yet passed by either chamber, and not law.

Cannabis Administration and Opportunity Act

Key claim: The bill would remove cannabis from the Controlled Substances Act, establish a federal regulatory and excise tax framework for commercial cannabis, and expunge nonviolent federal cannabis records.

Abstract

(S4226 · 118th Congress) Latest action (2024-05-01): Read twice and referred to the Committee on Finance.

Why this matters

The proposal links federal cannabis descheduling to a new commercial cannabis excise tax framework, making it relevant to the industry’s prospective federal tax burden. It remains an introduced bill facing legislative hurdles, and this finding does not establish tax rates, net changes in business tax liability, or how much of any tax would be passed on to consumers.

Source

Link

Briefing card

Cannabis Administration and Opportunity Act
Stage: introduced · congress · 01-may-2024

If you use cannabis for medical purposes, this introduced bill does not itself change your legal access or insurance coverage.

The bill would remove cannabis from the Controlled Substances Act, establish a federal regulatory and excise tax framework for commercial cannabis, and expunge nonviolent federal cannabis records.

Cross-references (0)

None recorded — doctrine links and citations appear here as scans and citation sweeps find them.

External: congress:118-s-4226:introduced

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Replies are grounded in the abstract and metadata above. The model will quote directly when possible and say so if a question isn't covered.

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