NORFOLK, Va. — The U.S. Drug Enforcement Administration is considering a recommendation by the U.S. Department of Health and Human Services to reclassify marijuana from a schedule I to a schedule III drug.
This would not make marijuana legal at the federal or state level but could have a big impact in the Commonwealth.
“This is an industry that’s tens of billions of dollars on the state-legal cannabis side,” said Columbia Care Senior VP of Corporate Affairs Adam Goer.
Columbia Care operates 10 medical marijuana dispensaries in Virginia, including one in Suffolk that opened in August.
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Goer said the reclassification could have a big impact in Virginia.
“We service tens and tens of thousands of Virginians, many of whom are suffering from debilitating life conditions,” Goer explained.
Currently, a schedule 1 drug is one that has no currently accepted medical use and a high potential for abuse.
Drugs like Heroin, LSD, and ecstasy are in that group with marijuana. Drugs like cocaine and fentanyl fall into schedule II.
The reclassification would change the way marijuana businesses are taxed, which