17 votes

New York just legalized marijuana. Here are the prime acquisition targets and the types of deals you can expect.

3 comments

  1. Amarok
    (edited )
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    And in other news, this also includes expunging the criminal records of anyone convicted for non-violent possession up to three ounces (the new legal limit). Edit: Excellent summary of the policy...

    And in other news, this also includes expunging the criminal records of anyone convicted for non-violent possession up to three ounces (the new legal limit).

    Edit: Excellent summary of the policy here.

    Adults 21 and older would be able to possess and purchase marijuana products from licensed retailers, which are expected to launch sometime in 2022.

    Effective immediately, there are no penalties for public possession of up to three ounces of cannabis or 24 grams of marijuana concentrates,

    Adults could also cultivate up to six plants for personal use, three of which could be mature. A maximum of 12 plants could be grown per household with more than one adult. Homegrow would not take effect until regulators set rules for it, and they would have a maximum of six months to do so for medical patients and must do so for adult-use consumers no later than 18 months after the first retail recreational sales begin. Once home cultivation becomes legal, people could store up to five pounds of cannabis at home.

    People with convictions for marijuana-related activity made legal under the legislation would have their records automatically expunged.

    Protections against discrimination in housing, educational access and parental rights would be instituted for people who consume cannabis or work in the marijuana industry.

    A system of licenses for commercial cultivators, processors, distributors, retailers, cooperatives and nurseries would be created, with a prohibition on vertical integration except for microbusinesses and existing medical cannabis operators.

    Social consumption sites and delivery services would be permitted.

    Individual jurisdictions would be allowed to opt out of allowing retailers or social consumption sites by the end of this year, but residents could seek to override such bans via a local referendum process.

    A new Office of Cannabis Management—an independent agency operating as part of the New York State Liquor Authority—would be responsible for regulating the recreational cannabis market as well as the existing medical marijuana and hemp programs and would be overseen by a five-member Cannabis Control Board. Three members would be appointed by the governor, and the Senate and Assembly would appoint one member each.

    The legislation sets a goal of having 50 percent of marijuana business licenses issued to social equity applicants, defined as people from “communities disproportionately impacted by the enforcement of cannabis prohibition” as well as minority- and women-owned businesses, disabled veterans and financially distressed farmers.

    Cannabis products would be subject to a state tax of nine percent, plus an additional four percent local tax that would be split between counties and cities/towns/villages, with 75 percent of the local earnings going to the municipalities and 25 percent to the counties. Marijuana distributors would also face a THC tax based on type of product, as follows: 0.5 cents per milligram for flower, 0.8 cents per milligram for concentrated cannabis and 3 cents per milligram for edibles.

    Tax revenue from marijuana sales would cover the costs of administering the program. After that, 40 percent of the remaining dollars would go to a community reinvestment fund, 40 percent would support the state’s public schools and 20 percent would fund drug treatment facilities and public education programs.

    Police could not use the odor of cannabis to justify searches.

    The State Department of Health would oversee a study of technologies for detecting cannabis-impaired driving, after which it could approve and certify the use of such a test. Additional funds for drug recognition experts also would be made available.

    Driving while impaired from marijuana would remain a misdemeanor despite early reports that lawmakers had settled on downgrading it to a violation.

    The state’s existing medical cannabis program would also be changed to expand the list of qualifying conditions and allow patients to smoke marijuana products. Patients could also obtain a 60-day, rather than 30-day, supply.

    Smokable hemp flower sales would be allowed.

    Current medical cannabis businesses could participate in the recreational market in exchange for licensing fees that will help to fund the social equity program.

    10 votes
  2. ChuckS
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    Somewhat related, my own Virginia appears to be stepping up the legalization process. Legislation that was passed targeted 2024, I believe, but Northam said it would be ridiculous to continue to...

    Somewhat related, my own Virginia appears to be stepping up the legalization process. Legislation that was passed targeted 2024, I believe, but Northam said it would be ridiculous to continue to prosecute people for something we're legalizing, so he's amended (amending?) the legislation to legalize possession.

    We're also supposed to be allowed to grow up to four plants each, starting July 1st, but I haven't seen that the bill is actually signed into law yet.

    https://www.wdbj7.com/2021/03/31/governor-northam-proposes-acceleration-of-marijuana-legalization/

    The Governor’s amendments allow adults to legally possess up to one ounce of cannabis, without intent to distribute, beginning July 1, 2021.

    Home cultivation: The Governor’s changes will allow households to grow up to four plants beginning on July 1, 2021. The amendments would require the plants to be labeled with identification information, out of sight from public view, and out of range of individuals under the age of 21.

    7 votes
  3. Amarok
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    We now have marching orders from the NYPD on how they will enforce this.

    We now have marching orders from the NYPD on how they will enforce this.

    Specific guidance in the memo tells cops that people 21 and older can legally smoke weed “almost anywhere that cigarette smoking is allowed including on sidewalks, on front stoops and other public places.”

    5 votes