New Jersey’s latest legal marijuana bill reportedly proposes the lowest weed tax in the country
A big part of the latest bill is the establishment of a five-person Cannabis Regulatory Commission, which would be in charge of plenty of rule-making. The five commission members would be appointed by the governor – three with Senate consent, one with the Senate president’s consent, and one with the Assembly speaker’s consent.
The latest bill doesn’t set a limit on how many licenses the commission can issue to interested businesses. It does, however, mandate that the state set aside 25 percent of licenses for businesses owned by women, minorities, or veterans.