New York cannabis regulators issued revised marijuana industry rules on Wednesday in response to more than 3,500 public comments. They will be subject to a 45-day public comment period, reported Green Market Report.
Some of the rules from the Office of Cannabis Management's document and highlighted by New York-based lawyers Jeffrey Hoffman and Michelle Bodian include:
- Starting December 29, 2023, the ten licensed registered organizations in New York – multistate operators that control the medical marijuana market – will be permitted to enter the recreational cannabis retail market. This is a significant shift from the original plan, which stipulated that the ROs must wait three years before joining the recreational market.
- Those applying without a pre-determined location seeking a license would be provided a provisional license following the submission of initial information on their business and the applicant’s eligibility.
- The first co-located recreational and medical dispensary for each RO will cost $5 million in licensing fees. Those businesses will be allowed to kick off their second and third recreational shops six months later, …