The Governor of New York has said she is “very frustrated” with the slow pace of expanding the recreational marijuana market in the state with more licensed businesses. She revealed that she had recently asked regulators to go back to the drawing boards to approve hundreds of additional retailers.
The tensions in the Empire State are high as marijuana license applicants express frustration over the abrupt cancelation of a Cannabis Control Board meeting (CCB) on Wednesday, where regulators had been expected to grant further approvals.
When Gov. Kathy Hochul’s office stepped in when they learned that the board only wanted to approve three new licenses.
“My team got in and said, “No, go back the drawing board.” Work harder. “Get this done. And no, I am not satisfied with the speed,” she said as reported by Spectrum News 1 .
She stated that those who have yet to receive the board’s approval are “absolutely entitled” to feel frustrated.
Hochul told reporters that she was “very frustrated” with the long time it takes to receive approvals. She acknowledged regulators were not solely to blame, but pointed out that “larger conglomerates,” who have been suing the licensing process in court for months, are also responsible.
The meeting was also scheduled to discuss proposed regulations allowing adults to grow cannabis at home.
The governor has also released this month a budget plan that calls for the removal of a THC Potency Tax. This is aimed at reducing costs for consumers and making the regulated market competitive with illicit operators.
A bill introduced in the Assembly earlier this month, which would give local governments the authority to close down cannabis businesses that are not licensed and seize the products, is also part of New York’s efforts to expand its state’s marijuana industry.
In December alone, over a dozen cannabis retailers opened after a settlement agreement lifted an injunction which had imposed months-long licensing blocks.
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The state’s Department of Labor also published sample job descriptions last month for various positions in the legal cannabis industry. Officials said that the samples were intended to streamline the hiring process and to allow potential employees to evaluate their qualifications in order to work in different roles in the emerging cannabis sector.
Hochul signed a separate bill in November to provide tax relief to New York City marijuana businesses that are currently blocked from making federal deductions under an Internal Revenue Service (IRS) code known as 280E. She also signed a bill to give tax relief to New York City cannabis businesses who are currently barred from taking federal deductions due to an Internal Revenue Service code called 280E.
New York City’s tax laws were not affected by the change in Hochul’s budget bill of 2022, which included provisions allowing state-level cannabis businesses tax deductions. This new measure aims to close that policy gap.
Hochul vetoed a bill that would have allowed Hemp seeds to be added to animal feeds for horses, pets and camelids like llamas or alpacas.
In September, about 66 state legislators–a third of all the state’s lawmakers–also sent Hochul an email urging her to sign a law that would permit licensed marijuana producers to sell their products to tribal retailers . This plan would provide a way for cannabis farmers to release surplus product. Hochul, however, vetoed the bill last month.
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