Illinois is now the 11th state in the U.S. to legalize recreational marijuana.
Democratic Governor J.B. Pritzker signed the legalization bill into law on Tuesday, just a few weeks after the proposal was passed by the state legislature.
“With this legislation, our state once again is a leader, putting forward the most equity-centric cannabis legalization in the nation,” Pritzker said at the signing ceremony. Pritzker, who came into office in January, has long advocated for legalization and campaigned heavily on the issue.
The law — known as the Cannabis Regulation and Tax Act — declares that cannabis will be "regulated in a manner similar to alcohol." Adults 21 years old and older will be able to legally purchase and possess up to 30 grams of marijuana and cannabis-infused products with up to 500 milligrams of THC.
The legislation also creates a framework for the expungement of non-violent, cannabis charges. Those charged with under 30 grams of marijuana will automatically have their cases reviewed through the governor's clemency program; individuals charged with 30 - 500 grams can submit petitions for the court to clear their records.
The state said that roughly 700,000 cases are eligible for expungement and 405,000 cases will be sent through the clemency process for automatic expungement.
"The time for justice is now, especially for communities of color who have long been disproportionately impacted by low-level cannabis convictions and the failed war on drugs,” Kim Foxx, the Cook County State's Attorney, said in a statement. “We look forward to continuing our efforts to ensure the broadest relief possible under this revolutionary law."
Illinois also made history for being the first state in the U.S. to legalize commercial cannabis through the state legislature, as opposed to a voter referendum.
The law allows licensed growers and sellers to operate up to three cultivation centers and 10 dispensaries. It also creates a $30 million low-interest loan program to help businesses enter the sector.
"This team effort sets a new standard for what cannabis reform can look like when undertaken with an openness to tough discussions, a commitment to strong outcomes and a willingness to do the hard work together," state Rep. Kelly Cassidy said in a statement. "We set out to do this differently and we did.”
Several other statehouses, including New York and New Jersey, have attempted and failed to pass legalization bills.
Illinois' law will go into effect on January 1, 2020.
Cate Luzio, CEO and Founder of Luminary, joins ChedHER to discuss how Luminary is supporting women at all stages of their career journeys, and the upcoming Chase for Business Fellowship to support business owners.
In an effort to fight climate change several corporations have vowed to work to fight climate change by 2030. They say the goal is to reduce carbon emissions by 40% or even close to 100%. However, according to a new study, many of these companies are not actually practicing what they preach. Tom Egger, senior lecturer at Emeritus at the University of Wisconsin, joins Cheddar News to discuss more.
'Jeen-Yuhs: A Kanye Trilogy' dives into over 20 years of the icon himself, Kanye West. The trilogy is described as 'an intimate and revealing portrait of Kanye West's experience, showcasing both his formative days trying to break through and his life today as a global brand and artist.' Cheddar news sat down with directors of the documentary and long-time friends of Kanye, Chike Ozah and Clarence "Coodie" Simmons, to discuss the project.
The Super Bowl is only a few days away, and the game is currently tracking to be the most expensive one ever.
Gametime, a website and app for last-minute tickets, says the average ticket price for the NFL's championship game is $9,502.50, with the most expensive seats costing nearly $38,000. That's a far cry away from the average ticket price of the first-ever Super Bowl in 1967, which was only $12. The average ticket price increased by more than $8,000 in just the past decade. Matt Rados, Senior Operations Manager at Gametime, joins Cheddar News' Closing Bell to discuss.
At-home medical labs company Getlabs raised $20 million in a Series A round, led by Emerson Collective and the Minderoo Foundation. Getlabs aims to be the boots-on-the-ground partner to telehealth. The company says more than 70% of medical decisions still require collecting diagnostic tests in person, and that it fills that void by delivering health care directly to their patients' homes. Founder & CEO of Getlabs Kyle Michelson joined Cheddar News' Closing Bell to discuss.
Sting has sold his catalog of more than 600 songs for $300 million to Universal Music. The deal gives the label the rights to all of his work, including “Every Breath You Take," as well as all future royalties.
Miller Lite is opening the first branded bar in the metaverse, by way of Decentraland, as a way to advertise during the Super Bowl this year without buying an expensive TV commercial slot. Sofia Colucci, global vice president of Miller Family of Brands, joined Cheddar to talk about the new marketing concept. "We have a lot of great partnerships with NFL teams throughout the year but were shut out of advertising during the Super Bowl game, so this pushes us to think creatively and also think of what feels really relevant right now," Colucci said. "There's no question that there's a lot of excitement with the metaverse, and we wanted to participate but in a way that felt right for Miller Lite."
Kalle Marsal, Chief Operating Officer at PetDx, joins Cheddar Innovates to discuss how next-generation sequencing technology is being used to detect cancer in pets early.
