'Ready, Set, Go': NJ's Adult Use Cannabis Timeline
With a functioning Cannabis Regulatory Commission, New Jersey is poised to activate its adult-use cannabis market. How long until this new market is open for business? For answers, we look to the licensing process timelines under CREAMMA.
March 18, 2021 at 03:00 PM
6 minute read
In mid-December, the New Jersey Legislature passed the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (CREAMMA), enabling a new adult-use cannabis market. At that time, political support for the Act appeared to signal that New Jersey was in the final stage of readiness to open the adult-use market; however it took an additional two months for Governor Murphy to sign CREAMMA into law and complete the required appointments to fill the vacancies of the five-member Cannabis Regulatory Commission (CRC).
On Feb. 22, 2021, CREAMMA went in effect. Now, with a functioning CRC, New Jersey is poised to activate its adult-use cannabis market. However, what comes next, and how long will it be until this new market is open for business? To answer these questions, this article discusses the licensing process timelines under CREAMMA.
|Establishing the Regulatory Framework
As set forth in the Section 6(d) of CREAMMA, by Aug. 22, 2021, (180 days from the effective date of CREAMMA) the CRC must create the initial rules and regulations to govern the recreational cannabis licensing process. The CRC will adopt governing regulations following its consultation with New Jersey's Attorney General, State Treasurer, Commissioner of Health, and Commissioner of Banking and Insurance and filing them with the Office of Administrative Law ("Rules Adoption Date"), providing constructive notice to all market participants. CREAMMA also calls for the CRC to begin accepting and processing license applications for recreational cannabis businesses within 30 days after the Rules Adoption Date. Therefore, the latest date that New Jersey can expect to see a request for applications from the CRC is expected on or about Aug. 22, 2021, with the expectation that the CRC will start accepting and processing license applications within the following 30-day period.
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