On October 28, 2022, the New York Office of Cannabis Management (OCM) released forward-looking guidance for those seeking to operate within the state\u2019s recreational cannabis market.<\/p>\n
The Background<\/strong><\/p>\n In January, Gov. Kathy Hochul published an extensive State of the State book, laying out New York’s plan for 2022, including $200 million loan fund in support of social equity applicants within the state\u2019s nascent marijuana market.<\/p>\n The state government set a goal of opening dispensaries by the end of the year that will allow New Yorkers to legally purchase cannabis. Hochul told the editorial board of Advance Media, owner of the Syracuse Post-Standard, that the state would open 20 dispensaries by the end of the year, with another 20 opening each month thereafter.<\/p>\n On October 17, Hochul told reporters that New York is \u201con track\u201d to open some cannabis dispensaries within months.<\/p>\n Under Hochul\u2019s plan, it is up to the state to select and lease locations for the dispensaries, including 70 in New York City. While the state\u2019s OCM has not yet announced any locations for dispensaries anywhere in the state, it recently issued guidance in clear anticipation of this plan unfolding in the near future.<\/p>\n The Regulations <\/strong><\/p>\n The New York OCM\u2019s \u201cGuidance for Adult-Use Dispensaries<\/a>\u201d is a series of prospective regulations for Conditional Adult-Use Retail Dispensary (CAURD) licensees and applications and are immediately effective.<\/p>\n The 27-page document includes requirements and operational rules addressing everything from operations and compliance measures to marketing, sales and distribution parameters, while providing insight into the OCM\u2019s plans for issuing licenses when the time comes. This includes topics of record-keeping requirements, required training for staffers, and inventory and tracking requirements, among others.<\/p>\n While these guidelines are not yet formally adopted and enacted as rules, they at least offer both CAURD licensees and regulators a \u201cworking\u201d preview of the New York Cannabis Control Board\u2019s (CCB) expectations for the forthcoming dispensaries.<\/p>\n Indeed, the document states that it \u201cserves to provide the framework that will assist CAURD licensees plan for how to operate their dispensary before regulations are formally adopted. . . and provides clarity on what the Office\u2019s expectations are in relation to those regulations and laws currently in place and the regulations that will be promulgated in the future.\u201d<\/p>\n What Does This Mean for CAURD Licensees?<\/strong><\/p>\n The state and regulators are gearing up for the opening and development of these dispensaries, possibly within the next few weeks, and throughout the next 15 months. CAURD licensees in New York should adhere to OCM\u2019s newest guidance, in addition to existing Cannabis Law and Title 9 of the New York Codes, Rules and Regulations, until a copy of the final regulations is made available on the OCM\u2019s website<\/a>.<\/p>\n On November 3, a Business of Cannabis: New York panel discussion ensued, where much of the conversations centered on the importance of providing equal opportunities to small business and justice-involved entrepreneurs to participate in the industry. Panel participants included Tremaine Wright, Chair of the CCB, Crystal Peoples, New York State Assembly Majority Leader, and Jeremy Berke, Reporter for Business Insider<\/em>.<\/p>\n The same day, Wright tweeted, \u201c[New York] is on target to open stores by the end of the year.\u201d Axel Bernabe, Chief of Staff & Senior Policy Director for OCM, who delivered the keynote more specifically assured, \u201cIn 15 months, we\u2019ll have a fully established supply chain built on social equity. That supply chain will form the backbone of what we\u2019re going to build on in the future.\u201d<\/p>\n Qualifying New York small business owners and entrepreneurs should keep a close pulse on this evolving regulatory landscape over the coming weeks and months to ensure they remain in legal compliance and best positioned to take full advantage of this next phase of the state\u2019s cannabis initiative.<\/p>\n","protected":false},"excerpt":{"rendered":" On October 28, 2022, the New York Office of Cannabis Management (OCM) released forward-looking guidance for those seeking to operate within the state\u2019s recreational cannabis market. The Background In January, Gov. Kathy Hochul published an extensive State of the State book, laying out New York’s plan for 2022, including $200 million loan fund in support … <\/p>\n