The law will temporarily revert the cannabis excise tax to 15% until 2028, suspending an increase to 19% levied earlier this year. It’s applied to the cannabis industry under a 2022 agreement between the state and marijuana companies. For years, the cannabis industry has lobbied against the tax, arguing that it hurts an industry overshadowed by a thriving illicit drug market. Since its legalization, the recreational weed industry has struggled to outpace the illegal market as farmers flooded the industry and prices began to drop. Legal sales make up about 40% of all weed consumption, according to the state Department of Cannabis Control.