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Inside Look At Chicago’s Proposed Cannabis Rules

Adult use cannabis is set to go legal in Illinois on January 1st

The city of Chicago staked out some of its claims in the expected land grab over legalization of recreational marijuana.

Getting into the weed business will require money and luck. The legislation proposed to the City Council today includes fees and a provision for a zoning lottery, and it lays out licensing fees for those who get into the industry.

The city has the option to charge a sales tax of up to 3 percent—in addition to the 20 percent to 34.75 percent cut the state will get from marijuana sales.

Mayor Lori Lightfoot hasn’t said how much the city will charge as it faces a budget shortfall approaching $1 billion. But the city did lay out the fees that companies will pay to get business licenses to grow and sell marijuana.

The fees range from $500 to $1,000 for dispensaries, depending on size; $5,000 for smaller “craft” growers to $50,000 for larger cultivators.

Those are in addition to the hefty licensing fees the state intends to charge existing medical-use growers and dispensaries to get into the recreational business when it becomes legal Jan. 1. The state will charge growers at least $450,000 in assorted fees, with dispensaries paying around $300,000.

To Read The Rest Of This Article On Crain’s Chicago Business, Click Here

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