Governor Releases Revised State Budget, Statutory Changes Affecting Cannabis in California
Governor Gavin Newsom has issued a revised state budget with several cannabis provisions, according to the budget summary. The revised budget forecasts the state cannabis excise tax will generate $288 million in 2018-19 and $359 million in 2019-20, a reduction of $67 million and $156 million, respectively, from the original Governor’s Budget forecast. It states, …