How Cannabis Reclassification Would Affect Businesses and Individuals With Previous Convictions – NBC Chicago

As the United States moves to federally reclassify cannabis, cannabis business owners and those with prior criminal convictions are among the many affected by the change.

“I was extremely excited about it,” cannabis company owner Reese Xavier told NBC Chicago.

Xavier is excited about the government’s new position on cannabis, which would reclassify the drug from Schedule I of the Controlled Substances Act, alongside heroin and MDMA, to Schedule III, alongside ketamine and Tylenol with codeine.

“We hope that this rescheduling will reduce the number of cannabis-related criminal convictions,” Xavier said.

As the owner of HT23 Growers, Xavier said he knows many people who have been criminally charged with cannabis offenses due to the Schedule I classification.

“It’s not fair,” he said. “It’s never fair that a plant like cannabis is criminalized and has to go through all of this and, frankly, more.”

For Kevin Sabet, of the non-profit Smart Approaches to Marijuana, this decision “reeks of election year politics.”

“I really think that’s what this is about. It’s about trying to attract young voters and I think it’s a desperate attempt to do that,” Sabet said.

Sabet, founder of the nonprofit, said he was not surprised by the classification change. He added that while he did not support the move, he also did not support the criminalization of cannabis.

“We don’t want people to be imprisoned or criminalized, but we also don’t want to see marijuana widely commercialized,” Sabet said.

From a business perspective, the new Schedule III classification means greater access to capital for medicinal and recreational cannabis companies like Chicago-based Cresco Labs.

“This will allow us to keep more of our income and pay regular taxes,” said Charlie Bachtell, founder of Cresco Labs.

“Most people don’t know this, but as a Schedule I substance, we are not allowed to make business deductions,” Bachtell said.

As for Xavier, he hopes this move is part of what will eventually lead to the removal of cannabis from the Controlled Substances Act.

“I certainly hope that at some point we’ll get to that point where it’s completely unscheduled,” Xavier said. “I’m confident we’ll get there. It’s an important first step, but we certainly have a long way to go.”

The proposed change must still go through a public comment period and will not become official for at least 60 days. This decision could also be challenged by Congress.