February 25, 2022 – Cannabis entrepreneurs take note! Steve Malito (Cannabis law practice Chair) tells us, this week, legislation (S.8084-A/A.9283) was signed into law by Governor Hochul that would provide conditional adult-use cannabis growers licenses for existing NYS licensed hemp growers. The legislation will require the cultivation and processing of adult-use cannabis to be done in an environmentally responsible manner, and provides appropriate oversight by the Office of Cannabis Management (OCM) and the Cannabis Control Board.
The conditional cultivator and processor licenses would not be issued by OCM after December 31, 2022, and such licenses would be rendered invalid after June 30, 2024. This is a move by New York State to boost both agriculture and its adult-use cannabis market that is expected to be implemented later this year.