VA HB642

Establishes a comprehensive retail marijuana market framework in Virginia, creating a licensing system for cultivation, manufacturing, wholesale distribution, and retail sales of cannabis products under state regulation.

Creates the Cannabis Equity Reinvestment Fund, with 50% of deposited funds directed to the Virginia Cannabis Equity Business Loan Fund to support individuals and communities disproportionately affected by drug enforcement.

Amends numerous sections of Virginia Code across multiple titles including criminal law (Title 18.2), juvenile justice (Title 16.1), and alcoholic beverage control (Title 4.1) to integrate the new cannabis regulatory structure.

Repeals existing provisions including § 18.2-248.1 (marijuana distribution penalties) and § 18.2-251.1 (marijuana possession penalties), replacing them with the new regulatory framework.

Assigns regulatory oversight to existing state agencies and establishes licensing categories, compliance requirements, and penalty structures for violations of the cannabis control provisions.