Senate Bill 765: Marijuana Legalization & Regulation

• Establishes Cannabis Control Commission: Creates a new North Carolina Cannabis Control Commission with a 5-member board to regulate marijuana cultivation, manufacturing, wholesaling, testing, and retail sales under Chapter 18D of the General Statutes.

• Legalizes Adult Possession and Home Cultivation: Adults 21+ may legally possess up to 2 ounces of marijuana in public and cultivate up to 2 mature and 2 immature plants at home for personal use, with specific packaging and labeling requirements for retail products.

• Creates Cannabis Equity Reinvestment Board and Fund: Establishes a 20-member Cannabis Equity Reinvestment Board to support communities disproportionately impacted by marijuana prohibition through scholarships, workforce development, and business loan programs.

• Implements Licensing System with Social Equity Preferences: Sets maximum limits on licenses (400 retail stores, 25 wholesalers, 60 manufacturing facilities, 450 cultivation facilities) and provides preference to qualified social equity applicants from July 1, 2024 through December 31, 2024.

• Automatic Expunction of Marijuana Offenses and Regulatory Changes: Automatically expunges convictions for marijuana offenses that are now legal under the new law by July 1, 2027, and establishes a 21% state tax plus optional 3% local tax on marijuana sales.