Senators in South Carolina have spent a number of weeks debating a medical marijuana legalization bill, finally approving the use of medical cannabis in the state in a 28 to 25 vote.
On Wednesday evening, South Carolina senators passed a proposal approving the use of medical cannabis in the state, following a seven-year pursuit by Republican senator Tom Davis to eventually get the bill on the desk of the House of Representatives. The bill received 28-15 support during the second passage reading, and is now due for a third and final reading on Thursday before officially proceeding to the House.
The proposal was subject to numerous amendments throughout the duration of the weeks-long debate, with forthcoming changes still expected before final approval. Under the bill’s current form, patients will be allowed to purchase marijuana products from licensed pharmacies, after receiving a prescription from their doctor following an in-person consultation. The patients would have to meet qualifying conditions, such as cancer, multiple sclerosis, glaucoma, sickle cell anemia, or autism in order to receive a prescription, which can only be dispensed for a two-week supply.
The medical cannabis would only be permitted in certain forms, such as oils, salves, vaporizers, or patches— smoking the substance would remain illegal in the state. Over 65 amendments have been made to the bill over the past week, including charging a 6% sales tax, as well as giving preference to South Carolina-based cannabis producers.
The bill has become one of the most conservative compared to the 37 states that have approved the use of medical cannabis.
Information for this briefing was found via ABC News. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
