Oregon Gov. Kate Brown signed two new bills Monday that could drastically alter the state’s marijuana business landscape.
One bill, HB 4014, will make it easier for big out-of-state businesses to break into Oregon’s marijuana marketplace by eliminating a two-year residency requirement for recreational marijuana producers, processors and retailers.
The new law also permits cannabis businesses to deduct business expenses permitted under federal tax rules when they file their state taxes, and also could increase the number of MMJ customers in the state because it slashes registration card fees for veterans from $200 to $20.
A second bill, SB 1598, makes it easier for small in-state MMJ growers to compete in the recreational market by reducing fees and required paperwork when applying for state recreational marijuana licenses.
Two other bills with implications for Oregon’s marijuana industry have not yet received Brown’s signature: SB 1511, which accelerates the timeline for when dispensaries can sell cannabis-infused edibles and concentrates as recreational products, and HB 4094, which makes it legal for banks and credit unions to open accounts for marijuana businesses.