As we previously broadly summarized on December 27, 2022 (here), in late December 2022, the Office of Cannabis Management (“OCM”) released its first proposed adult-use cannabis rules and regulation for New York (the “Proposed Regulations”). The official document is 282 pages, so we won’t cover every detail. But we will highlight the big-ticket items, significant issues that all applicants should be aware of, and the license application process as a whole. This post will go into detail the Social and Economic Equity sections and commentary provided for in the Proposed Regulations. Keep in mind, the Proposed Regulations are still pending as OCM receives the final public comments to the Proposed Regulations.
For anyone considering applying for an adult-use license, we reiterate our recommendation of hiring an experienced, local cannabis attorney. At a minimum, understanding the overall framework of the licenses and the licensing process is a precursor to an in-depth consultation on a license application.
One of the more notable topics covered in depth by the Proposed Regulations is the establishment of a social and economic equity applicant, and licensee. If you remember, the Marijuana Regulation and Tax Act (“MRTA”) established a goal to award 50% of all adult-use cannabis licenses to
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