SB 17-111 Summary

• Allows medical marijuana licensees to purchase and sell up to a percentage of their total on-hand inventory to other Colorado-licensed medical marijuana centers, with the state licensing authority setting the percentage by rule at no lower than 30 percent.

• Permits medical marijuana centers to transfer inventory to another medical marijuana center or infused product manufacturer without percentage restrictions if all direct beneficial owners of both licensed businesses are identical.

• Authorizes the division regulating medical marijuana to grant temporary waivers to centers experiencing catastrophic inventory events or to new licensees for up to 90 days to cultivate necessary supply.

• Appropriates $128,428 from the marijuana cash fund to the Department of Revenue for marijuana enforcement, including 0.9 additional FTE for the 2017-18 fiscal year.

• Takes effect August 9, 2017, unless a referendum petition is filed, in which case it requires approval by voters at the November 2018 general election.