Retail marijuana moves closer to reality in Virginia

(The Center Square) – Retail marijuana sales are one step closer to becoming a reality in Virginia after lawmakers approved a plan to create a state-regulated market, sending the proposal to the governor for a final decision.

The final version passed both chambers through a conference report, with the Senate voting 21–18 and the House 64–32 largely along party lines.

A 6% state cannabis tax would apply on top of the existing sales tax, and local governments could add an additional tax of between 1% and 3.5%.

State fiscal analysts project the market could generate about $10 million in its first year, growing to more than $100 million annually within several years, depending on how quickly the system is implemented and how many businesses enter the market.

House Bill 642 and Senate Bill 542 lay out how marijuana would be grown, processed, transported and sold across the commonwealth.

Rather than opening the market broadly, the plan limits how ma...