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Ohio Approves Funds for MMJ Tracking System

Associated Press

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Investment in the Cannabis Industry Grows

COLUMBUS, Ohio (AP) — Regulators of Ohio’s budding medical marijuana industry have received approval to spend an additional $6 million over the next two years on projects including a seed-to-sale tracking system.

The funds for the Ohio Medical Marijuana Control Program were approved Monday, adding to the previously approved $5 million. Officials say the program will repay the state using revenues from licensing fees.

The largest part of the money will go to set up a system to track plants from cultivation through sale.

Officials say the program may later ask for funds to set up a payment system that would allow noncash payments between marijuana businesses, patients and state vendors. Sales of marijuana can be complicated by the unwillingness of banks to participate in transactions that are still illegal under federal law.

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