Va. Governor, Lawmakers Reach Agreement On Retail Cannabis Market
The marketplace is set to open July 1st of 2027
Virginia Gov. Abigail Spanberger announced Tuesday a plan for a retail marijuana marketplace to open in the commonwealth, a deal described as a compromise after months of ongoing discussions.
As part of the agreement, the marketplace will open July 1, 2027. The state tax on cannabis products will begin at 6% and increase to 8% in 2029.
The plan, which is tied to the state’s lingering budget process, comes after Spanberger vetoed the proposal that made it through the General Assembly. But the conversations continued, and the latest legislation will be included in any budget package that Spanberger reviews.
Though the concept of a legalized marijuana market had previously passed in Richmond, former Gov. Glenn Youngkin vetoed the idea twice.
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