In The Weed: The Big Push for Recreational Cannabis in New YorkBy on February 17, 2020 in Cannabis
We’re back with another installment of “In The Weed.” And you know what else is back? Optimism and excitement for recreational cannabis in NY!!
When we left you last, it was “The Big Ugly” (the last week of the session for NY legislators) and recreational cannabis was the hot topic in Albany. It was looking like it would pass, but a few Long Island senators got cold feet, the votes were not there and they shelved it. Thanks fraidy cat LI senators!
But Governor Cuomo is not giving up so easily. Just last week, in his annual State of the State address, he all but promised to legalize recreational cannabis in NY in 2020. He has anew, modified plan for recreational cannabis in his budget proposal for 2020 AND more importantly, the buzz in Albany is that it will be accepted and approved by the state legislature. So, buckle up because we are predicting that recreational cannabis will become legal in New York in 2020!
So, what happens it if passes? If cannabis legalization is indeed in the Governor’s budget proposal, and it is ultimately accepted and approved (by April 1), that is only the beginning of the journey. The State is going to spend the next 12 months or so building the Office of Cannabis Management, the new agency that will be responsible for statewide cannabis control. Once they get the agency together, we will get a look at the final regulations and ultimately, the applications. Our anticipation is that it will take roughly 6 months to finalize the cannabis law, 12 months until applications are being accepted and 24 months until the first legal, recreational sales.
So where do we go from here? What can you be doing right now, so that you are one of the first movers when it comes to setting up a legal, recreational cannabis business in NY? Stay tuned for an announcement about our next Canna Chat, which will take a deep dive into those exact questions and lay out the roadmap between today and the day that you can legally purchase marijuana for recreational use in NYC.
Keep on Truckin’,
Joseph and David