Today New York’s Cannabis Control Board hosted a landmark session in which a number of major resolutions were passed, which the industry hopes will kickstart momentum in the state’s cannabis programme.
The emotionally charged session will be music to the ears of investors and MSO’s who’ve been vying to get their foot on the ladder in the state, but will likely have caused frustration for CAURD holders.
Business of Cannabis will be delving into the details of each of the resolutions passed during the session in the coming hours.
In the meantime, here is a roundup of the key developments.
Business of Cannabis: New York on November 3 will explore the current cannabis retail and licensing infrastructure in New York. Early Bird Tickets are available until midnight on September 8. Get yours here: www.cannabisnewyork.live.
The state’s ‘Revised Adult-Use Regulations’ were passed unanimously to applause from the room, following nearly 4000 comments from nearly 100 individuals and organisations.
- ‘No substantive changes were deemed necessary for this package’ according to the board.
- This marked the ‘final package’ which has now been under discussion for ‘just under a year’.
- Alex Bernabe referenced the ‘momentus nature of this package’, which covers everything from ‘labs to enforcement, social equity provisions, licensing provisions, business rules and operating rules’, across more than 700 pages.
General licences are now set to open up on October 04
- Applications for cultivator, processor, distributor, microbusiness, and retail dispensary licences will now open on October 04.
- Applications for additional licence types will open soon after.
- Additionally, the office will be making available forms allowing compliant Registered Organisations to transition into the adult use market.
- Adult Use Conditional Cultivator (AUCC) and processor licence in good standing with the office, we’ll be able to apply to transition to non conditional licence through an application.
- The application window for the applications will be open for 60 days for interested applicants to apply.
- All adult use cannabis licence applicants will have the opportunity to apply for social and economic equity certification.
https://twitter.com/jfberke/status/1701620738560581635
A resolution to release the application of Registered Organisation (RO) applications, paving the way for medical cannabis operators to enter the market, was passed unanimously.
- This marks the first opportunity to apply for registration since the Department of Health opened the application in 2015, and will allow the OCM to evaluate and select additional medical cannabis businesses in New York State.
- The granting or registration must be in the public interest.
- The application fee for medical operators is $10,000 and the registration fee is $200,000 Payable upon registration approval.
- The Office encourages diverse applicants who can quickly operationalize to apply for registration.
- Applicants must consider the extent to which they reflect the demographics of the state.
- The application portal will be opening in October. The office will be sharing more details soon
The New York Medical Cannabis Industry Association (NYMCIA) said: “The CCB’s approval of adult-use regulations demonstrates positive forward momentum. Today marks a pivotal step toward expanding and sustaining the state’s medical program and creation of an economically viable and equitable adult-use cannabis industry in New York.
“Once up and running, this market will help squeeze out illicit operators putting consumers at risk, provide growers with more opportunities to sell their products, and generate tax revenue for communities disproportionately impacted by the cannabis prohibition. We look forward to continuing to engage in the process of realising these important goals.”
The board also voted unanimously to approve the opening of a cannabis research licence application.
- “Scientists, physicians, cultivators and others will now have the opportunity to study real world cannabis products.”
- The licence application will be available on the OCM webpage beginning tomorrow and accepted on a rolling basis.
- A Cannabis Research Licence will allow researchers to produce, process, possess, and purchase cannabis for research purposes.
- Applications will cost $250, while licence fees will total $500.
The OCM also announced that Chief of Staff & Senior Policy Director at NYS Office of Cannabis Management Alex Bernabe will be departing the organisation.
