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Nov. 6 was a historic day for the people of Missouri!

With the passing of Missouri Amendment 2, also known as the Medical Marijuana and Veteran Healthcare Services Initiative, the state joined the ranks of 33 others in the U.S. with medical marijuana laws.

Here is a breakdown of Amendment 2 and how it changes the laws regarding medical cannabis in Missouri

- Cannabis is now legal for medical use only.

- The Department of Health and Senior Services will begin accepting applications for qualifying patients within 180 days after December 6th, 2018.

- The Department of Health and Senior Services will begin accepting applications for dispensaries no later than 240 days after December 6th, 2018. The Department has 150 days to either reject or accept these applications.

- State licensed physicians have the authority to prescribe medical marijuana to patients that have one of nine qualifying conditions (Cancer, Epilepsy, Glaucoma, Intractable Migraines, HIV/AIDS, Debilitating Psychiatric Conditions/PTSD, Medical conditions that cause chronic pain).

-Patients may grow up to 6 plants in their home, purchase up to 4 ounces of cannabis in flower form and posses 'not less than a 60 day supply of dried marijuana or the equivalent'.

- Medical marijuana will be taxed at a rate of 4%

- Proceeds of medical marijuana sales will help provide healthcare services, housing assistance and job training for veterans.

One of the big differences in this medical market is that local municipalities do not have the authority to ban cannabis like in other states like New Jersey and Colorado.

Missouri and Utah both voted to legalize medical marijuana this week and now 3/5 of the U.S. has medical laws on its books.

According to post election reports, Missouri is likely to have close to 200 dispensaries operational by the year 2020. The state government projects annual revenue north of $24 million.

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