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NJ Cannabis Regulatory Commission waives Nov. 1 deadline, delays decision on social equity excise fee after public input
Summary
The Cannabis Regulatory Commission voted to waive the November 1 regulatory deadline for setting an increased social equity excise fee and will gather more stakeholder input before setting the fee. Public commenters gave sharply different recommendations — some urging higher fees for reparative investment, others warning a steep fee would harm small equity licensees.
The New Jersey Cannabis Regulatory Commission on Oct. 30 voted to waive the November 1 regulatory deadline for setting an increased social equity excise fee, delaying a final decision so staff can gather additional information and hear more stakeholder input.
The action came after staff presented the regulatory framework under the CREAM Act and NJAC 17:30-3.4 and reported a statewide average retail price of $330.68 per ounce. Director Raetz told commissioners the board’s regulations tie fee brackets to that average and staff recommended setting the fee according to the regulation. Commissioners did not adopt a new fee at the meeting; instead they voted to waive the November 1 deadline for taking action.
Why it matters: Commissioners framed the choice as a balance between raising revenue for social equity investments and preserving the viability…
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