WASHINGTON (dpa-AFX) - Kentucky has officially opened applications for cannabis business licenses, allowing businesses to apply for licenses to sell, process, or grow medical marijuana.
The application process, established by a bipartisan House Bill 829, commenced today, July 1, marking the start of the six-month period before medical cannabis becomes legal on January 1, 2025. Interested medical providers can also apply for permission to prescribe cannabis through the Kentucky Board of Medical Licensure and Board of Nursing.
The application window will remain open until August 31. Kentucky plans to distribute a limited number of licenses to cultivators and dispensaries using a lottery system. A total of 48 licenses will be allocated to dispensaries across 11 regions, 10 to processors, and 16 to cultivators. The lottery winners are expected to be announced in October, according to Governor Andy Beshear.
Governor Beshear emphasized the use of a lottery system to ensure an equitable process. 'It creates a more fair process,' he said. 'Not one where people bid against each other and only then the big companies can be a part of it.'
The application requirements for prospective license holders include an application fee, submission of business history, operating plans, and financial information. This approach aims to create a fair, transparent, and customer-oriented process in the cannabis business licensing system.
Furthermore, the program intends to prevent market saturation by implementing license caps. Governor Beshear also suggested the possibility of future expansions based on demand and qualifying medical conditions. From January 1, patients with qualifying illnesses, such as cancer, chronic pain, epilepsy, multiple sclerosis, and post-traumatic stress disorder, can start applying for medical cannabis cards.
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