Recreational marijuana legalization in New York is moving into a new phase. After stifling staff delays brought on by political infighting, newly minted members of the state Cannabis Control Board are now interpreting and shaping the Marijuana Regulation and Taxation Act, the state’s cannabis law approved by former Gov. Andrew Cuomo and state lawmakers last spring. Much of what the redefined medical cannabis program and the implementation of the potentially lucrative legal market will look like in the Empire State is in the purview of the five-person panel, which had its first meeting last week. The board must do that work while putting particular emphasis on social equity and repairing the harms done during the substance’s prohibition. Already language in the law has legalized possession of three ounces of cannabis for people 21 and over. However, some of the regulations for localities, as well as the licensing process and social equity provisions, have yet to materialize. Kristin Jordan of Park Jordan, a commercial real estate brokerage and cannabis industry advisory firm, said the cannabis regulators don’t have a model in other states in how to legalize while accentuating social equity.
Cannabis Business Executive – Cannabis and Marijuana industry news, 10/13/2021 09:39:00