On January 1, 2020, the Cannabis Regulation and Tax Act went into effect, providing for the controlled legalization of cannabis use for adults in Illinois. Not only did the law make the recreational use of cannabis legal for adults, but it also established regulations for cannabis dispensing organizations. The licensing and oversight for these businesses fall under the bailiwick of the Illinois Department of Financial and Professional Regulation (IDFRP). If you have been granted a cannabis dispensing license and have questions or run into any legal issues, a Chicago business license lawyer can help.
State Issues Licenses
So far, the IDFR has issued a total of 182 conditional adult use dispensing organization licenses out of the 185 licenses that are available. There were a total of 177 licenses issued in July and another five issued so far this month. The IDFR does anticipate issuing the remaining three licenses within the next few weeks as soon as additional documents are received from the businesses chosen.
Under the law, when a business has been awarded a conditional license, it has 180 days to choose a physical storefront location and obtain an adult use dispensing organization license. If the conditional license holder is unable to find a physical location within those 180 days, they may request an extension of an additional 180 days.
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