A Nugget from the Cannabis Regulatory Committee Meeting
The June 1, 2021 (virtual) meeting of the New Jersey Cannabis Regulatory Committee (CRC) provided additional guidance on issues and the application process status, regarding medical and recreational marijuana in New Jersey. Though information was limited, the meeting focused on important aspects relating to obtaining a license. Most notably, the CRC providing definitive language on the cooperation between local municipalities and the CRC in awarding licenses. Specifically, a key aspect is the CRCs reliance on comments and approval of local municipalities on granting a license from state. Approval by local towns which will host the business will be imperative for obtaining a license.
Based on the information provided in the meeting, upon establishing a corporate entity and registering the entity with the state, potential licensees need to begin working with "local municipalities" e.g. the town which will host your business, regarding local regulations, rules, zoning, etc. Further potential licensees should recognize (1) the preference of licenses to minority-owned businesses, and (2) the recent abolishment of any Federal ban on service professionals e.g. lawyers, accountants, etc. on working in the cannabis industry.