Arkansans hoping to grow medical marijuana will have to pay an annual $100,000 fee to operate a cultivation facility, the Arkansas Medical Marijuana Commission decided Tuesday.
Would-be growers will also need to have access to cash to ensure the stability of their business. The commission decided Tuesday to require an applicant to have a $1 million bond or assets worth $1 million and be able to show $500,000 in cash liquidity.
That’s in addition to a $15,000 application fee approved last week.
In another decision Tuesday, the commission said the first five cultivation facilities will not be required to be spread to the state’s five public health regions, as previously discussed.
Instead, providing economic opportunity in an area will be considered a positive thing when the commission reviews cultivation facility applications.
Created by the Arkansas Medical Marijuana Amendment passed by voters in November, the commission must develop the rules through which Arkansans can begin applying for cultivation and dispensary licenses by June 2017. The Legislature can extend that deadline by a two-thirds vote. [Read more at Arkansas Online]