What's happening
This bill requires a study on the implementation of medical marijuana in New York, focusing on banking, tax collection, and employment issues.
Why it matters
Addresses Real-World Hurdles to Legal Medical Marijuana. The mandated study will explore practical challenges that medical marijuana businesses face, such as limited banking options due to federal restrictions, which can lead to cash-only operations and security risks.
Focuses on Tax and Worker Protections. By examining how taxes—including employment-related taxes, workers’ compensation, and unemployment insurance—are collected, the study aims to ensure the state can effectively regulate, tax, and protect workers in this emerging industry.
Leverages Out-of-State Expertise. Requiring that the study be conducted by an entity with experience in more mature medical marijuana markets ensures New York can learn from other states’ successes and mistakes, potentially accelerating solutions and avoiding costly errors.
Ensures Ongoing Implementation. The bill clarifies that New York’s medical marijuana program will not be delayed while the study is conducted, signaling a commitment to both progress and due diligence.
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Who cares
Headline styles
Study Medical Marijuana Banking Issues
Plain English, a few words. Used as the page title.
Sponsors
15 Co-sponsors
3 Multi-sponsors
History
- Referred to ways and means
- Reported referred to rules
- Reported referred to ways and means
- Referred to health
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Study Medical Marijuana Finances
In Senate Committee · Health · Sponsor Diane J. Savino
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4250
2017-2018 Regular Sessions
IN ASSEMBLY
February 2, 2017
Introduced by M. of A. GOTTFRIED -- read once and referred to the Committee on Health
AN ACT to amend the public health law, in relation to requiring a study of the implementation of medical marihuana in regards to banking, tax revenue collection, and employment tax collection issues
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The public health law is amended by adding a new section 3369-f to read as follows:
§ 3369-f. Study. 1. The commissioner is hereby authorized and directed to study implementation of this title in regards to banking, tax revenue collection, and employment tax collection issues.
2. Such study shall include, but not be limited to examining: the method used by the department of taxation and finance to collect and transfer money relating to the business of medical marihuana; the method used by the regulating authorities to collect worker taxes, workers compensation payments, and unemployment insurance contributions; and banking opportunities for the registered organizations licensed pursuant to section thirty-three hundred sixty-five of this title.
3. This study shall be conducted by a qualified entity with experience in the regulatory implementation of and market for the medical marihuana industry in other states with programs that have developed beyond that of New York state.
4. Such study shall be completed and submitted to the legislature no later than January sixteenth, two thousand eighteen.
5. Nothing in this section shall be construed to delay implementation of this title pending the outcome of this study.
§ 2. This act shall take effect immediately; provided however that the amendments made by section one of this act shall not affect the repeal of title 5-A of article 33 of the public health law and shall be deemed repealed therewith.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02576-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.