New York Cannabis News and Updates

Though cannabis has had a tumultuous history in New York, the state’s emerging cannabis industry is finally on the cusp of legal sales.

In March of 2021, the Marijuana Regulation & Taxation Act (MRTA) was signed into law – legalizing recreational cannabis. The New York cannabis market is projected to collect more than $1.25 billion in revenue over the next six years. The Office of Cannabis Management will be regulating this market – led by a five-member board (Cannabis Control Board).

Major Changes

Possession Laws

New York’s laws allow for individuals 21 and older to possess up to 3 ounces of flower, which is more than other markets like California and Colorado which only allow to the possession of 2 ounces. Additionally, New York allows for the possession of up to 24 grams of concentrate (oils and edibles). Also, smoking cannabis in public in New York falls under the same rules as cigarettes and tobacco.

Expungement & Sentencing

MRTA also addresses expunging the criminal records of those previously charged with possession of cannabis. Instead of ‘sealing’ information which could be accessed under specific circumstances, expungement completely erases their past cannabis-use, and will not force individuals to reveal such sensitive information in job applications. Employers also can’t discriminate against employees if they test positive for marijuana unless it’s affecting how they do their job. The law, furthermore, addresses persons with jail sentences, who, if they satisfy the necessary requirements, can motion to have old convictions reduced, but only two years after the law’s enactment.

Social Equity

New York is taking a unique approach to social equity that is different from other established markets. For instance, MRTA earmarked half of their marijuana-related-licenses to “women, minorities, distressed farmers, veterans and individuals who have lived in communities disproportionally impacted” by the war on drugs. Moreover, Gov. Hochul plans to designate $200 million of the state’s budget for helping individuals find and renovate retail stores for cannabis. Finally, around 40% of tax revenues will go toward a community reinvestment fund with aims of improving areas that have experienced high marijuana enforcement. Already, Chris Alexander, the executive director of the state’s Office of Cannabis Management, expects between 100 to 200 licenses to be awarded to people with marijuana-related-offenses. Currently, there is no limit for the number of licenses the state can issue.

MRTA also added Autism, Alzheimer’s disease, and Muscular Dystrophy to the list of conditions which qualify patients to receive medical marijuana treatment.

What’s Next

Education

With projections putting New York cannabis at a multi-billion-dollar industry, the state will need all the training it can get to fill the nearly 60,000 jobs expected to be generated. That is why, in July, the governor pledged $5 million to SUNY and CUNY community colleges to create credentialed programs for people who wish to work in the cannabis industry. The governor and the legislature also see this initiative as another recruiting tool for social equity candidates from historically “undeserved communities,” who may be more likely to enroll in community and technical schools.

New Stores

Though cannabis has been legal since March of 2021, it may not be until spring 2023 before any dispensaries open their doors. Some of the first regulations proposed by the Cannabis Control Board include increasing the capacity for drug testing, how to report THC levels, and refraining from “cartoonish branding” on the packaging which could appeal to children.

How Can Sapphire Risk Help?

Tony Gallo and the team of experts and consultants at Sapphire Risk Advisory Group have worked to secure medical marijuana and recreational cannabis businesses in 37 states. Follow us on social media to stay up to date with more security best practices and cannabis industry updates!