Proposed Bill Endangers Access to Safe,
Non-Intoxicating Wellness Products in California
LOS
ANGELES, July 25, 2024 /PRNewswire/ -- In a
devastating blow to California's
brick-and-mortar hemp industry, consumers, and small business
owners, Assembly Bill 2223 threatens to decimate non-intoxicating,
low-THC hemp products, sparking widespread economic and regulatory
concerns while jeopardizing access to safe and effective relief
options for Californians. Rather than eliminating THC products
entirely, the proposed legislation shifts exclusive retail control
to marijuana dispensaries, effectively forcing out industry-leading
wellness retailers from the state.
Of the 19 independently owned and operated Sunmed | Your CBD
Store locations in California, 10
are located in townships where marijuana dispensaries are
prohibited. This regulatory landscape makes conversion to
dispensaries impossible, leaving consumers without legal access to
wellness alternatives and small business owners with no viable
options for continued operation.
"Conversion to dispensaries is neither financially obtainable
nor desirable for store owners like myself, as our products are not
designed for intoxication and do not cater to recreational
marijuana users. Customer feedback and sales data consistently show
that our consumers seek full spectrum hemp for health and wellness
benefits," said Chad Paydo,
owner of Petaluma, Lafayette, and Concord Sunmed | Your CBD Store
locations.
"Our clinically proven formulas assisting with sleep,
anxiety, and relief will be criminalized under the current draft
bill, while dispensaries offering highly intoxicating THC products
continue to proliferate."
AB 2223 imposes an egregious cap on non-intoxicating hemp
products at 0.25mg total THC per serving or 1mg total THC per
package, eliminating 80% of Paydo's store inventory without a grace
period.
Proposed amendments to current law do not ban any currently sold
full spectrum products but reassign the retail rights, further
monopolizing the market for cannabis and hemp products. The fiscal
impact of this bill is estimated to be in the millions, increasing
California's already strained
budget deficit.
"Since October 2021, Sunmed |
Your CBD Store locations in California have generated an estimated
$5.8 million in hemp CBD product
sales and contributed approximately $420,000 in state taxes, creating hundreds of
jobs. Every one of these stores is expected to close if AB 2223
passes unamended," said Marcus
Quinn, CEO of Sunmed | Your CBD Store.
"Politicians say this bill attempts to regulate dangerous and
misleading products, yet every Sunmed | Your CBD Store complies
with rigorous regulatory guidelines. Our products meet, and more
often than not exceed, the highest safety and compliance standards
with stringent quality control, full panel third-party testing,
child-proof packaging, and strict age requirements," Quinn
added.
Enforcement against bad actors in California has been historically insufficient.
Sunmed | Your CBD Store supports robust regulation and advocates
for increased funding for the California Department of Public
Health (CDPH) to enhance its enforcement capabilities. An increased
budget for CDPH, supported by an excise tax, could address
deficiencies.
To ensure the availability of safe, compliant hemp products in
California and protect the
livelihoods of local businesses, Sunmed | Your CBD Store urges
community support to oppose AB 2223 through social media and direct
engagement with local politicians.
Contact
Patrick Shatzer
Sunmed | Your CBD Store
customersupport@getsunmed.com
About Sunmed™ | Your CBD
Store®
Sunmed | Your CBD Store is the largest hemp retailer in
the United States and the
exclusive home of award-winning, hemp-derived Sunmed products. With
300+ nationwide locations across 42 states, the brand offers a
premium in-store customer experience with access to 150+
nonpharmaceutical wellness formulas, including clinically proven
sleep gummies, pain relief topicals, USDA-organic oil tinctures,
and CBD for pets. Through in-store education, community
involvement, and groundbreaking clinical research, Sunmed strives
to empower modern wellness and enhance people's lives with natural
science-backed products. Learn more at getsunmed.com.
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SOURCE SunFlora