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What's New in the Cannabis Regulation and Taxation Act of 2021? | Hodgson Russ LLP

To embed, copy and paste the code into your website or blog: On January 19, 2021, as part of his budget request for 2021, New York State Governor Cuomo released his proposed cannabis legislation. Cuomo has twice before attempted to enact the policy change through previous budgets, but both times his efforts have failed. As for his third attempt, the administration and legislatures seem more confident that the legislation will advance. While a significant portion of the current bill reflects previous versions, there are some differences of note. The Office of Cannabis Management Like last year’s proposal, the new bill calls for the creation of the Office of Cannabis Management ( OCM ), which would be within the Division of Alcohol Beverage Control. OCM would consist of an executive director and a separate board with one chairperson and four other voting members. The executive director would be tasked with administering the program and appointing a deputy director of health and sa

NY: Adult-Use Cannabis Legalization Included in 2021-22 Budget Proposal

Monday, January 25, 2021 On Jan. 19, Gov. Andrew Cuomo released his Executive Budget Proposal for 2021-2022. As expected, the proposal includes comprehensive cannabis legislation, the Cannabis Regulation and Taxation Act (CRTA), that would, among other things, legalize cannabis for adult-use. The CRTA includes the following key provisions. The Office of Cannabis Management The CRTA would establish the Office of Cannabis Management (OCM) within the Division of Alcohol Beverage Control. The OCM would be governed by a five-member Cannabis Control Board, appointed by the governor, to oversee the adult-use, medical, and cannabinoid (CBD) hemp industries. Under the governor’s proposal, the governor would appoint all five members and the chair, who would also serve as the board’s executive director. The powers of the new office include the establishment of cultivation and processing standards, caps and limitations; the licensure of all business entities in the production an

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