The Cannabis Control Board in New York-what happened?

The Cannabis Control Board in New York-what happened?

Facebook
Twitter
LinkedIn


In all the excitement of passing the Marijuana Regulatory and Taxation Act (MRTA) in New York, one thing that is often lost is that legalization is only the first step in the issuance of adult cannabis licenses. The most important administrative action item is the establishment of the main regulatory agency, the Cannabis Control Board (CCB).

The CCB will be responsible for issuing many prerequisites for adult use licenses. Its main responsibility is to develop the actual application process for adult cannabis licenses and new registration organizations (RO) and industry rules and regulations, all of which will be published within the MRTA framework.

The CCB will consist of five board members: three appointed by the governor, and two appointed by the Senate and Parliament (one each). The chairman of the CCB will be nominated by the Governor with the recommendation and approval of the Senate. CCB members have a term of three years and must be citizens and residents of New York.

The importance of the chairman of the China Construction Bank cannot be overemphasized. The chairman will have a huge impact on the development direction of the cannabis industry in New York. With so much leeway in issuing industry rules and regulations, the chairman has the ability to truly prioritize applicants for social and economic rights, reduce the early lead that existing ROs may have, and establish a sustainable licensing process. Technically, the chairperson is also the individual who makes the preliminary decision on whether a given license should be issued.

The following are some practical examples of CCB’s ability to guide the industry:

Restrict the ability of existing ROs to sell other manufacturers’ products in retail.

As we mentioned before, there is some debate about whether MRTA explicitly restricts RO’s ability to sell any adult products in their respective adult pharmacies, not just their own products. It is up to CCB to clarify whether the supervision is applicable to retail sales.

Confirm whether the on-site consumption licensee can conduct retail sales.

Due to separate licenses for retail and on-site consumption, and the almost total prohibition on holding multiple license types, it is not clear whether on-site consumption licensees can also sell retail cannabis. Allowing on-site consumption licensees to conduct retail and on-site consumption at the same time is likely to be the difference between having a potentially sustainable business model and losing money who may not survive.

Set application fees.

Do we need to explain the importance of this? CCB has the right to charge applicants a non-refundable application fee. How CCB sets the fee will directly affect how many potential licensees will submit applications.

Set canopy restrictions for Cultivator licensees.

We have been talking Regarding the importance of real estate as part of the licensing process. For potential cultivator license holders, one of the main considerations when looking for real estate is how many available square feet are needed. The CCB will determine whether there is a tree canopy restriction, which will directly affect the demand for real estate of the grower’s license applicant.

Define micro-enterprises.

Since the micro-business license is one of the exceptions to the vertical integration ban, we have many customers asking whether they are eligible to become a micro-business. CCB will provide its definition of micro-enterprise, which may (or may not) open up vertical integration paths for many potential applicants.

Only from a few practical issues, the importance of CCB is obvious. All of this begs the question: What is the status of Governor Cuomo’s nomination of CCB chairman?

The New York State Legislative Assembly ends on June 10, 2021. It was expected that Governor Andrew Cuomo would nominate someone in time for the chairman to get approval at the end of the legislative session.With the overwhelming approval of legalization and the excitement of upcoming taxation, it is in stark contrast to the cascading delay in accepting applications caused by the following reasons Is not To appoint the chairman of CCB and four other board members before the end of this legislative session, it is difficult to understand that the governor will run the risk of not being appointed in time.However, we are here, halfway through June, we may have to wait until now January 2022 Appoint the chairman of CCB.

according to WHO May be nominated, but several names have already been eliminated. It now appears that Governor Cuomo intends to nominate former Congressman and Assistant Governor Karim Kamara. This is a bit surprising, because it is widely expected that the Governor will nominate Norman Birnbaum, the Cannabis Czar of New York.

To avoid putting the cart before the horse, we will postpone reviewing the resume and our thoughts on future appointments until the actual nomination is made. But like other parts of the New York cannabis industry, we are eagerly waiting for the actual nomination. This is the first step towards the operation of the New York cannabis industry.



Source link

More to explorer

Understanding Key Factors in Accidents

Pedestrian Safety Statistics Pedestrian safety is an urgent concern worldwide, with over 1.3 million people dying in traffic accidents annually. Pedestrians account