Cannabis control; retail market; transitional sales; regulated hemp products; penalties. Establishes a framework for the creation of a retail marijuana market in the Commonwealth, which would be administered by the Virginia Cannabis Control Authority. The bill allows the Authority to begin issuing marijuana licenses on July 1, 2024, and, beginning July 1, 2023, allows certain pharmaceutical processors, pending establishment of the retail market, to cultivate, manufacture, and sell cannabis products to persons 21 years of age or older. The bill transitions from the Virginia Department of Agriculture and Consumer Services to the Authority the authority to regulate the testing, labeling, packaging, and advertising of regulated hemp products, as defined in the bill. The bill creates a process by which persons convicted of certain felony marijuana-related offenses committed prior to July 1, 2022, who remain incarcerated or on community supervision on July 1, 2023, may receive an automatic hearing to consider modification of such person's sentence.