Good news for Real Estate’s Alternative Investment sector. For the first time ever, a provision protecting state medical marijuana laws is being included in base funding legislation for the U.S. Department of Justice. President Trump and both houses of Congress support Sens. Elizabeth Warren’s (D-MA) and Cory Gardner’s (R-CO) new legislation which will exempt state-legal marijuana activity from the provisions of the federal Controlled Substances Act. Tom Angell for Forbes reports the bill also protects banks that work with legal cannabis businesses and allows industrial hemp cultivation. The Week reported a different result from recreational marijuana legalization. Oregon has halted processing new applications for legal marijuana businesses amid signs the industry is growing too quickly. The state now has a glut of one million pounds of weed – or a quarter pound for every man, woman and child. State economists warned that Oregon now has few job applicants who can pass a drug test, indicating “a broader increase in drug usage.” to live here.
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