Michael Schwamm – Page 2 – Cannabis Industry

February 23, 2022 by Michael D. Schwamm

NY Gov. Hochul signs conditional cannabis cultivation bill to speed-up recreational cultivation

New York Gov. Kathy Hochul signed new legislation on Tuesday that will allow hemp farmers in the state to apply for a conditional license to grow cannabis.

With this legislation, New York is creating a new Conditional Adult-use Cannabis Cultivator license, allowing hemp farmers to grow cannabis in the 2022 growing season to “position New York’s farmers to be the first to grow cannabis and jumpstart the safe, equitable and inclusive new industry we are building”. Conditionally licensed cannabis farmers must hit certain requirements under this law. Continue reading “NY Gov. Hochul signs conditional cannabis cultivation bill to speed-up recreational cultivation”

January 28, 2022 by Duane Morris

More Investors Eying Ways to Tap the Higher Returns of Cannabis Real Estate

Duane Morris partner Michael Schwamm was quoted in an article on WealthManagement.com.

The past few years have brought cannabis legalization to multiple states, giving real estate investors a new alternative asset class to put their money into. It looks like this trend is only going to intensify in the months ahead.

As we get further into 2022, all U.S. states without current medical cannabis legalization are now considering legislation or ballot initiatives to legalize it. In addition, some states where medical cannabis is already legal may take the next step this year to allow adult recreational use. […]

Twenty-one additional states may legalize cannabis use in some form this year, according to Michael Schwamm, a partner in the New York office of the law firm Duane Morris. […]

“Real estate investing (along with ancillary services) is often the entry point for many investors,” Schwamm adds. “As the industry continues to gain acceptance, I am seeing more and more traditional real estate investors taking a look at this market as they are able to get higher returns in the cannabis sector vs. other [real estate] markets.”

To read the full text of this article, please visit the WealthManagement.com website.

January 26, 2022 by Duane Morris

New York State Cannabis Update

By Michael Schwamm

More than 520 cities, towns and villages (1/3 of all municipalities in New York state) have opted out of allowing cannabis retailers and consumption lounges in their municipalities as of the December 31 deadline, according to new data released by the OCM. Of that number, 75 municipalities opted out of consumption lounges, but will still allow cannabis retailers. On the other hand, three towns are banning retailers, but will allow consumption lounges. Continue reading “New York State Cannabis Update”

October 11, 2021October 12, 2021 by Michael D. Schwamm

Notes from New York Cannabis Control Board Meeting, October 2021

By Michael D. Schwamm and Joy Karugu

There were several outcomes of the inaugural New York Cannabis Control Board (CCB) Meeting held on October 5, 2021. The Meeting revealed that the CCB and the Office of Cannabis Management (OCM) will be increasing their staff and taking steps to extend the medical cannabis program and cannabinoid hemp licensing. Also during the Meeting, Jason Starr was announced and voted in as the Chief Equity Officer of the OCM. He will work with Executive Director Chris Alexander in building New York’s social equity program. Continue reading “Notes from New York Cannabis Control Board Meeting, October 2021”

October 5, 2021 by Duane Morris

Michael Schwamm to Be Panelist at Arcview Town Hall: Massachusetts

Duane Morris partner Michael Schwamm will be a panelist at Arcview’s virtual event, Town Hall: Massachusetts, on October 14, 2021, at 1:00 p.m. PT/4:00 p.m. ET.

Massachusetts’ cannabis industry has surpassed $2B in sales, has issued 900+ licenses, and employed more than 16K people in less than three years. Find out what’s behind Massachusetts’s success and what comes next for the commonwealth’s cannabis industry.

For more information, please visit the event website.

June 11, 2021June 16, 2021 by Michael D. Schwamm

Confirmation of New York Cannabis Regulator Appointments Delayed

By Michael Schwamm

The Cuomo administration and New York lawmakers will delay the confirmation of cannabis regulator appointments until a special session after the June primary, POLITICO’s Anna Gronewold and David Giambusso report. The nominees remain a mystery as the widely expected pick to lead the new Office of Cannabis Management, Cuomo’s cannabis czar Norman Birenbaum, apparently has fallen out of favor amid pushback from some advocates and lawmakers.

April 23, 2021 by Duane Morris

Thinking Outside the Bud Podcast: An Interview with Michael Schwamm

Duane Morris partner Michael Schwamm is featured in the April 23 episode of the Thinking Outside the Bud Podcast.

Visit the podcast page for more information.

September 2, 2020 by Duane Morris

Duane Morris Partners Named Cannabis Law Trailblazers

Duane Morris partners Paul P. Josephson and Michael D. Schwamm have been named Cannabis Law Trailblazers by National Law Journal. The list honors individuals who are “truly agents of change.”

To read the full press release, please visit the Duane Morris website.