Cannabis products; retail sale by certain pharmaceutical processors.

Retail sale of cannabis products by certain pharmaceuticalprocessors; sunset. Allows certain pharmaceutical processors to, under theoversight of the Board of Pharmacy, sell cannabis products at retail tounregistered persons who are 21 years of age or older without the need for awritten certification. The bill provides that such sales will be subject toexisting Board of Pharmacy regulations and other requirements set forth in thebill. The bill requires pharmaceutical processors engaging in such sales to paya $1 million fee and collect a 21 percent excise tax, both of which shallultimately be allocated to the Virginia Cannabis Control Authority to be usedto assist independent cannabis retailers located in designated rural and urbanopportunity zones. The bill also requires such pharmaceutical processors tosubmit and comply with a plan describing how the pharmaceutical processor will,in its health service area, educate consumers about responsible consumption ofcannabis products and incubate independent cannabis retailers or support andeducate persons that wish to participate in the cannabis market. The billdirects the Board of Directors of the Virginia Cannabis Control Authority topromulgate regulations governing sales, cultivation, extraction, processing,manufacturing, wholesaling, and other related activities conducted pursuant tothe provisions of the bill and provides that, upon the adoption of suchregulations, oversight of such activities shall transfer from the Board ofPharmacy to the Board of Directors of the Virginia Cannabis Control Authority.The bill expires when pharmaceutical processors engaging in the sale ofcannabis products pursuant to the provisions of the bill are authorized by theVirginia Cannabis Control Authority to apply for and be granted licenses tocultivate, manufacture, wholesale, and sell at retail to consumers 21 years ofage or older retail marijuana and retail marijuana products.