Virginia sets 2027 start for regulated cannabis market with phased licensing

Virginia negotiators reached a budget deal to legalize and regulate a retail cannabis market, opening July 1, 2027, with a 6% tax (rising to 8% after 2029), up to 350 licenses phased in, up to 100 microbusiness licenses by May 1, 2027, and 75% of first-year license revenue directed to the Cannabis Equity Business Loan Fund to aid equity-focused entrepreneurs; enforcement aims to curb the illicit market, protect youth, and support small businesses, while localities can add 1–3.5% tax.