New Jersey’s efforts to legalize adult use recreational cannabis officially moved from legislative to electoral. Senator President Stephen Sweeney introduced a constitutional amendment regarding the legalization of adult use recreational cannabis that is expected to be on the ballot in the 2020 election.
If New Jersey voters approve of the amendment, it would take effect on January 1, 2021. The actual implementation of legalized adult use recreational cannabis, however, would take additional time. Similar to the anticipated process with respect legalization through legislation, this method would still require a state agency (the Cannabis Regulatory Commission) to be created, rules and regulations to be implemented and promulgated and license applications to be processed. In other states where this process has taken place, it took one to two years for dispensaries to officially open following the official legalization enactment.
On September 25, 2019, the U.S. House of Representatives passed H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act. The legislation is intended to allow the cannabis industry to have access to financial services and to enhance public safety by reducing the industry’s reliance on cash. It provides a safe harbor for financial services companies, including banks, credit unions, and insurers, to serve cannabis-related businesses operating under state law without the threat of regulatory backlash or criminal prosecution.
On Monday, the New Jersey Department of Health announced that it is seeking new applicants to operate 108 additional Alternative Treatment Centers – 
As a recreational cannabis bill in the New Jersey legislature stalls, federal legislation directed at expanding the cannabis industry’s access to banking and insurance services advances in Congress. On March 28, 2019, the U.S. House of Representatives Committee on Financial Services approved H.R. 1595, the 
Earlier this week, Governor Phil Murphy, Senate President Steven Sweeney, Assembly Speaker Craig Coughlin, Senator Nicholas Scutari and Assemblywoman Annette Quijano jointly announced an agreement on the major outstanding issues for cannabis legalization: 
