Cannabis business opportunities could expand in Michigan after regulators released new wide-ranging emergency regulations Wednesday.
For example, recreational marijuana businesses won’t face the capital requirements that medical cannabis businesses do. An MMJ business needs at least $200,000-$500,000 in assets.
Other highlights of the measure signed by Gov. Gretchen Whitmer, according to MLive.com, include:
- Medical and recreational cannabis can be sold in the same store, as long as they are physically separated.
- A new cultivation license category raises the cap on how many plants a site can grow.
- Marijuana smoking lounges will be allowed, including at retail stores, but those businesses will not be allowed to serve food or alcohol.
- Social consumption licenses can be issued for special events.
The rules were released to give Michigan’s local governments time to decide if they want to ban recreational marijuana businesses before state regulators begin accepting business license applications, MLive.com reported.
The emergency rules expire in six months.