A new one-million-square-foot cannabis cultivation campus is now open in Coachella.
Green Horizons is on Avenue 48 near Dillon Road. California State Treasurer Fiona Ma was at the ribbon-cutting ceremony, pushing for more banking access for marijuana businesses.
"I also testified in Congress about the Safe Banking Act. It was the first-ever Congressional hearing and things are moving slowly and hopefully, we’re going to reschedule cannabis from one to three," Ma said. "It’s really hard to track cash as we know and so it’s hard to audit any company unless they have credit card statements bank statements recipients and so that’s been kind of the difficulty with this industry."
Ma says that rescheduling marijuana could help businesses in the state by changing the tax burden.
On Thursday, the Justice Department officially submitted the notice of proposed rulemaking to the Office of the Federal Register to change the classification of marijuana.
Ribbon-cutting held for 1M square-foot cannabis cultivation campus in Coachella
