In a major move, President Joe Biden’s administration plans to reclassify weed as a less harmful substance, which could lay the groundwork for more medical research and help cannabis businesses in New Jersey and beyond.
Citing sources, the Associated Press reported that the U.S. Drug Enforcement Administration’s plan would recognize the medical use of cannabis and say it’s less likely to be abused than more dangerous drugs.
But while recreational weed is legal in New Jersey and nearly two dozen other states, the plan would not legalize it across the nation. And it will still require further review before it can be enacted.
“These changes could usher in a new era of acceptance and growth for cannabis businesses, fostering innovation and expanding its role in the economy,” said cannabis store owner Alyza Brevard Rodriguez, who operates The Other Side dispensary in Jersey City.
One of the potential upsides could be the impact on weed businesses, which cannot deduct expenses on federal tax returns and have trouble getting loans from banks.
“The rescheduling potentially changes the game,” said Sarah Trent, who operates a cannabis dispensary in Raritan. “Maybe if it’s rescheduled that means the bank is going to give me a loan or line of credit.”
The process involved the Drug Enforcement Administration, headed by former New Jersey Attorney General Anne Milgram, which agreed with federal health officials to move weed from what’s known as Schedule I to Schedule III.
The categories were created by the government to delineate between drugs that have no accepted medical use and ones that do.
Cannabis was previously considered something that didn’t have medical use, even as many states have long legalized medical dispensaries.
However, some New Jersey cannabis leaders said the plan does not go far enough.
They pointed out that the policy would continue criminalization of cannabis by falling short of full descheduling, which would end most criminal penalties for the drug nationally.
“Rescheduling does not end the Drug War,” said cannabis lawyer Mollie Hartman Lustig, who works at McLaughlin and Stern and serves on the state Bar Association’s Cannabis Law Committee.
Those focused on criminal justice wanted more, said Ryan Magee, a cannabis lawyer for McCarter & English.
“For many this may come as a mild disappointment,” Magee said. “While rescheduling is a step in the right direction many advocates and lawmakers saw this as an opportunity for DEA to deschedule cannabis altogether.”
That also means that police in New Jersey would still be allowed to arrest people who have more than the threshold for personal use of cannabis.
The move by the Biden administration comes as New Jersey attempts to fulfill its promise to create an equitable market as smaller businesses struggle to sustain themselves. Medical marijuana patients, meanwhile, are pushing for the state to allow them to grow their own weed.
The news came on the day of the State Bar Association Cannabis Symposium in New Brunswick, where it was greeted with cautious optimism as more bureaucratic hurdles are ahead.
“It’s not written in stone yet, but the mason just showed up at our front door,” said cannabis lawyer Beau Huch.
Stories by Jelani Gibson
Jelani Gibson is a cannabis and politics reporter forNJ.com. He can be reached atjgibson@njadvancemedia.com. Follow him on Twitter@jelanigibson1and onLinkedIn.