Bill Text: CA AB766 | 2023-2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Cannabis: invoices: payment.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB766 Detail]

Download: California-2023-AB766-Introduced.html

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CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 766

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Introduced by Assembly Member Ting

February 13, 2023

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An act relating to cannabis.

LEGISLATIVE COUNSEL'S DIGEST

AB 766, as introduced, Ting. Cannabis.

Existing law, the Control, Regulate and Tax Adult Use of Marijuana Act (AUMA), approved by the voters at the November 8, 2016, statewide general election, regulates the cultivation, distribution, transport, storage, manufacturing, testing, processing, sale, and use of cannabis for nonmedical purposes by people 21 years of age and older. The existing Medicinal and Adult-Use Cannabis Regulation and Safety Act (MAUCRSA), among other things, consolidates the licensure and regulation of commercial medicinal and adult-use cannabis activities.

This bill would state the intent of the Legislature to enact legislation relating to the sale of cannabis, including establishing maximum terms by which cannabis licensees may sell goods on credit.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 It is the intent of the Legislature to enact subsequent legislation that would do all of the following:

(a) Establish all of the following:

(1) Maximum terms by which cannabis licensees may sell goods on credit.

(2) With respect to paragraph (1), penalties and a course of action for failure to timely pay invoices.

(b) Provide oversight powers to the Department of Cannabis Control to ensure timely payment of goods across the supply chain.