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Iowa’s Medical Marijuana Laws Are Attracting Investors

On 30 May 2014, Terry Branstad, the Iowa governor, signed into law SF 2360. This piece of legislation allowed the possession, sale, and use of “CBD” or “cannabis oil” that contains no more than 3% by mass of THC, as a treatment for epilepsy. Thus, the door has been opened for medical marijuana in the state. SF 2360 was among a wave of legislation that has swept across the continental United States over the last several years.

There is a growing acceptance by the mainstream medical industry for use of cannabis as a legitimate treatment for a number of different conditions and symptoms. While in the case of Iowa, the law initially only allowed for marijuana to be used in cases of epilepsy and required the patient to present with a note of recommendation from a neurologist, it was an important first step.

SF 2360

As reported by themonitordaily.com In March of this year, the state legislature approved a bill which extended SF 2360 indefinitely, a resounding endorsement of the success of the program thus far. While there seems to be almost unanimous agreement that the current program is proving to be successful, as severe epilepsy can be extremely debilitating and the use of CBD dramatically improves symptoms, there is hesitation in some corners to expand the list of approved conditions.

It is also worth noting that, while the success rate has been very high, only 132 people have obtained registry cards since the bill was passed. Despite polls suggesting widespread support for expanding the program among the general population, the political will appears to be lacking. That could be about to change though as a new dimension has been added to the debate.

Attracting Investors

The Iowa Legislature has expressed an interest in expanding the program to allow a handful of manufacturers and distributors to set up businesses in the state to grow, produce, and sell marijuana and products containing approved extracts thereof, earlier this spring. It is widely expected the Legislature will shortly introduce a bill that expands the list of approved conditions beyond epilepsy.

Randy Mayer is the administrator at the Iowa Health Department. In a recent interview, he cited 50 as the number of businesspeople who have approached the department and expressed an interest in applying for the necessary licensing to become an approved manufacturer or distributor.

The Future

The economic imperative could sway the last few dissenting voices in the Iowa Legislature, especially as other states that have implemented much broader medical marijuana programs and continue to report that their own laws have been successful in boosting local economies and improving the lives of many patients.

Interestingly, the current situation in Iowa still doesn’t allow for the production of cannabis, and so even though those with medical marijuana cards are protected legally if they are found in possession of otherwise illegal cannabis products, they have no guarantee of access.

The federal government still takes the official view that marijuana has no accepted medical use, but this view is rapidly shifting. Attitudes among the general public and the medical profession have favored some degree of legalization for a while now and the tide seems to be moving towards total decriminalization.

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