Top New York regulators say they expect the state to open 12 new marijuana shops by the end of this year, now that the court’s blockade has been lifted on the processing licenses.
This would be an impressive expansion in a relatively short time, since the Office of Cannabis Management of New York (OCM) only has 34 licensed retailers so far after legalization.
Don’t miss the opportunity to support legal NYS Cannabis. “After a number delays and challenges, we are poised open a dozen dispensaries by December 31st,” Cannabis Control Board Chair Tremaine Wright said in a LinkedIn posting on Wednesday.
She said, “We are celebrating the successes of our Social Equity Licensees.” “New York opened up the legal market to people who were disproportionately affected by over-policing during prohibition and divestment.”
OCM announced Wednesday that it will open three new dispensaries in the coming week after the Supreme Court of the State approved settlement agreements following lawsuits which had prevented them from licensing hundreds retailers since August.
These dispensaries are located in Manhattan, Brooklyn and the Bronx. Wright says that this is just the start of a wave of licensing to end 2023.
The New York Cannabis Social Equity Investment Fund supported the opening of the two adult-use retail stores in Albany and Troy, last week – days after the court’s injunction was lifted.
Governor Hochul said, “As the marijuana market grows, my administration will focus on protecting New Yorkers’ health and safety, helping small business thrive, and creating the most equitable adult use cannabis industry in the country.” In a recent press release, Kathy Hochul stated. New York State continues to provide safe and legal products to consumers, while working to help those who were targeted by inequitable enforcement in the past of cannabis laws.
While regulators are busy processing the backlog for hundreds of conditional retail licenses, is also actively accepting new applications for recreational shops as well as medical cannabis dispensaries in the coming days.
During the long-term legalization process, illegal cannabis operators proliferated throughout New York. The governor announced that they would “intensify” enforcement.
The New York Senate Cannabis Subcommittee was formed in April by Sen. Jeremy Cooney, (D) and has been chaired since then. In October, the Subcommittee heard testimony from witnesses, and discussed possible legislative solutions for the ongoing implementation problems of cannabis legalization in the state.
Hochul signed a bill recently that aims to make it easier for financial institution to work with clients licensed to grow cannabis.
She also signed another bill intended to provide tax relief for New York City cannabis businesses, which are currently prevented from making federal deductions due to an Internal Revenue Service code (IRS), known as 280E.
Hochul had signed an earlier budget bill in the past year which included provisions that allowed state-level cannabis businesses to deduct tax — a partial remedy for the ongoing federal problem. However, New York City’s own tax laws were not affected by this change. This new measure aims to close that policy gap.
The governor, however, vetoed two bills last week which would have permitted hemp seeds to be added to animal feed for horses, pets and camelids , such as llamas, alpacas, and camels . She cited a lack information about safety, and asked the state to investigate the issue “immediately.”
In an effort to increase consumer access to marijuana legalized in the state, regulators launched the Cannabis Growers Showcase, a program of OCM, which allowed licensed growers to sell directly to customers. The program is now over, but an Assembly member says he plans to file legislation that will extend it.
In September, about a third (66) of the state’s legislators wrote Hochul to urge her to to sign a law that would allow licensed marijuana manufacturers to sell their products to tribal retailers. This plan will allow cannabis farmers to release surpluses they have but are unable to sell.
New York regulators continue to work on debunking the “false narrative” that marijuana is often contaminated with fentanyl, a “misconception,” that is “widely held” despite lack of evidence. OCM released a factsheet recently on the subject, stating that while fentanyl can be found in heroin and MDMA, the anecdotal evidence of marijuana being laced with fentanyl is unfounded.
The Office of Addiction Services and Supports also recently revised its guidance on THC testing in people receiving treatment for substance abuse disorder. It advises marijuana screening in cases when “the patient has indicated that a reduction or cessation of use of cannabis is part of their treatment goal.”
The Black Friday after Thanksgiving was a time when regulators encouraged consumers to shop at licensed cannabis retailers and take advantage of the great deals.
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