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Photo: Education News Colorado
Rep. Tom Massey: “It’s not going to go away. It’s a legitimate business in Colorado.”

‚ÄčColorado lawmakers on Monday debated and rejected a plan for the state to back an investment bank for the medical marijuana business. The plan would have meant the state was taking a more active role in the financing of medicinal cannabis dispensaries.

As part of a bill to tweak regulations for the medical marijuana industry, state Rep. Tom Massey (R-Poncha Springs) proposed an amendment to create investment trusts for dispensaries, reports John Ingold at The Denver Post. The state Department of Revenue would have overseen the trusts and set up the rules for them.