Guam Gov. Eddie Calvo has signed a bill directing the Department of Revenue and Taxation to begin issuing business licenses to medical cannabis cultivators, processors, laboratories, and dispensaries – bringing patients in the U.S. territory one stop close to receiving medical cannabis therapies, the Guam Daily Post reports.
Medical cannabis was legalized by Joaquin “KC” Conception II in 2014; however, the measure left government agencies without direction, leaving patients who may qualify for access to the program without a way to obtain the products.
The law, which passed the legislature unanimously, requires the Revenue and Taxation Department to begin issuing business licenses for the industry and collect fees for administration of the industry.
According to the bill text, owners of medical cannabis businesses in Guam must be residents of the island for at least three years and the majority of the business must be owned by a legal resident. Three types of cultivation licenses are available – a Type 1, which allows a 2,500 square foot canopy on a single location, a Type 2, which allows between 2,501 and 5,000 square feet of canopy, and a Type 3, which allows 5,001 to 10,000 square feet of canopy per premises. Application fees for all businesses run $1,000.
Get daily cannabis business news updates. Subscribe