The nascent recreational marijuana industry in Massachusetts will, one day, bring in revenue to cover the state’s costs of regulating and licensing pot shops. But first, the state will have to set up a brand new regulatory framework.
Where the money will come from to set up that framework — before any marijuana is sold — remains to be seen.
Massachusetts Treasurer Deborah Goldberg told the Legislature’s Committee on Ways and Means on Monday that she anticipates asking lawmakers for money “in order for us to carry out all of the responsibilities involved with this new endeavor.”
While there are some licensing fees that will be raised to fund the licensing process, most of the revenue from marijuana will not come until marijuana is actually being sold. In the meantime, the state will have to set up a new Cannabis Control Commission to oversee the industry, craft rules and set up the licensing process. [Read more at MassLive]