Unpacking New York's S854 Cannabis Legalization Bill - Part 1
Yesterday we covered the “Definitions” section of New York’s S854 cannabis legalization bill. Here are some of the conversational highlights of yesterday’s workshop:
From a social justice standpoint, the bill is good. This bill may actually be the new standard-bearer throughout the country for legalization that attempts to repair the disproportionate damage caused by the war on drugs to disadvantaged communities.
From a local small/medium business standpoint, the bill is not good. More on this in coming workshops.
Although the legalization bill has passed, the way legalization will actually be enacted determines who the regulator is and what the actual regulations are, which we expect to be released in six to twelve months.
Hemp flower (below .3% THC) is now legal.
CBD is now allowed to be in food and beverages.
New York’s cannabis tax rate is higher than 13%. Precise calculations are complex and will be explained in a future workshop.
NY Medical cannabis users…
Will be able to purchase flower at medical dispensaries.
Will be able to grow cannabis plants at home.
Now have a far more expansive list of conditions that can qualify them, if they have “a practitioner who is licensed, registered or certified by New York state to prescribe controlled substances within the state.”
Can expect more research and better-informed medical doctors.
....More to see in the video. See you next week!