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Bill to allow out-of-state investment in CO marijuana moves to House

Posted at 6:23 PM, Mar 06, 2019
and last updated 2019-03-06 20:23:41-05

DENVER – A bill that would open the door for out-of-state investors and private equity firms to wade into Colorado’s marijuana industry is now in the House Appropriations Committee.

HB19-1090 would repeal a restriction limiting the number of out-of-state direct beneficial owners to 15 individuals and would allow publicly traded corporations to obtain a marijuana license for the first time.

The bill’s prime sponsors are Rep. Matt Gray, Rep. Kevin Van Winkle, Senator Julie Gonzales, and Senator Owen Hill.

Governor Hickenlooper vetoed a similar bill last session but current Governor Jared Polis said he supports the plan.