A lot is going on in the world of cannabis. In September 2021, the final members of the Cannabis Control Board were named. The Board then held its first meeting in October. In January 2022, a $200 million dollar public-private equity fund was established to support social equity cannabis license holders. Mayor Adams has expressed a desire to grow cannabis on the roofs of NYCHA buildings!! In Manhattan, those selling illegal weed can be found hawking pre-rolled joints everywhere from Times Square to Washington Square Park. In February, cease and desist letters were sent by the Office of Cannabis Management to over two dozen businesses suspected of selling or gifting marijuana without a license. If one were interested, it is not difficult to find businesses selling everything from pizza to cookies and candies infused with cannabis.
And yet, legal weed is still not here yet. Last week, New York granted cultivation licenses to 52 hemp producers. The producers say their first crop will be ready in 5-6 months. Will New York be ready to sell it. As of now, no dispensary licenses have been issued. Allegedly, fully licensed dispensaries are expected to begin selling legal cannabis in mid-2023. New York State Senator Diane Savino, who drafted the medical marijuana legislation, appeared on Arthur Aidala’s radio show last night. She discussed in detail a wide-array of subjects relating to the cannabis industry in New York. She also expressed her opinion about the federal regulations that still outlaw cannabis, how out-of-date and foolish those regulations are, and why she is not so sure they will change anytime soon. It is a fascinating discussion and it can be heard at the link below.
Now, more than ever, seems to be the time to explore getting into the marijuana business. Or to just enjoy marijuana. Happy 4-20!!
Here is The Arthur Aidala Power Hour radio show episode from Tuesday 4/19 featuring New York State Senator Diane Savino: https://omny.fm/shows/the-arthur-aidala-power-hour/the-arthur-aidala-power-hour-4-19-22
For more information or more fact-specific discussions, call our office and ask to speak with attorney Michael Jaccarino.