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.
Netflix beat its earnings projections for Q4 — but the stock still plummeted as the streaming pioneer cut back on its forecast for future subscribers. Michael Robinson, the chief technology strategist at Money Map Press, joined Cheddar to discuss the report and what's driving the downward pressure on its shares. "It's the growth is really what's worrying people," he said. "'A' we have slowing economic growth, and 'B' we've got slowing growth for this company, as 'C' we have an increase in competition."
On this episode of ChedHER: Podcast Host of 'That's Total Mom Sense' breaks down the biggest challenges mothers are facing today; CEO of Joro explains how her app can help users track, reduce, and automatically offset the carbon footprint of their purchases; Three ways to improve your financial wellbeing and set goals for yourself and your future.
Kanika Chadda-Gupta, TV Journalist and Podcast Host of 'That's Total Mom Sense,' joins ChedHER to discuss the challenges mothers are facing today and gives advice for changing up your career path.
Sanchali Pal, Founder and CEO of Joro, joins ChedHER to discuss how her app can help users track, reduce, and automatically offset the carbon footprint of their purchases, and gives advice for other women seeking careers in climate.
According to a recent analysis in the NYTimes, young Americans have begun to take on the habit of smoking cigarettes despite the decades of evidence showing just how dangerous they are. Contributor at New York Times John Ortved, joined Cheddar to discuss more.
Terrell Jermaine Starr, senior fellow with the Atlantic Council and host of the Black Diplomats podcast joins Cheddar News to discuss Russia's attempt to invade Ukraine.
Aditi Mayer, a climate justice activist joins Cheddar News to discuss her partnership with DoSomething.org and how a new PSA is working to shine a light on environmental racism.
Connected cars software development platform Smartcar announced this week it has raised $24 million in a Series B round led by Energize Ventures. Smartcar's software can be integrated into mobile and web apps from mobility businesses. It allows users to do things like locate and unlock a vehicle, as well as check its mileage, fuel level, and battery if the vehicle is electric. Smartcar's technology is compatible with 22 different vehicle brands in 31 different countries. Smartcar co-founder and CEO Sahas Katta joined Cheddar News' Closing Bell to discuss.
