Cannabis Industry growth in Nevada; 2023 Legislative session impacts

RENO, Nev. (KOLO) – You can now by more cannabis here in Nevada, the change was among multiple bills signed into law during the 2023 Legislative session.

Senate Bill 277 increases the amount of cannabis can buy in a single visit, up from one ounce to as much as two-point-five-ounces. Governor Joe Lombardo also signed Assembly Bill 430 into law, which restructures taxes on marijuana and lowers the amount owed by marijuana companies.

Owners at ‘Sol Cannabis’ in Washoe Valley say changes to the system are important, as the industry continues to grow and evolve in the Silver State, and the economic impact continues to show promise.

“The presence of so many cannabis-related bills in the legislative session is representative of the fact that right now, we’re the 4th largest industry in the state of Nevada and we need to continue to evolve as a state, so that we provide the services like the lounge,” said Ed Alexander, Founder of Sol Cannabis.

Sol is also one of just three dispensaries, awarded a license to have a “cannabis lounge” and the only one in Northern Nevada, but the lounges still need to be approved by the county, before the dispensary can make it available for guests.

“Day one, a lot of people had no idea what to think about it [cannabis]; now we’re five, six years into regulated cannabis and we have to continue to evolve and look at things so that we stay current. I’m excited that the state is embracing change in the legislative capacity,“ said Alexander.

In addition to SB 277 and AB 430, Governor Lombardo also signed two other pieces of cannabis legislation into law: SB 195, SB 328.

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