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Business owners wait on cannabis board appointments in New York

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Officials continue to review potential appointees to the state’s Office of Cannabis Management and Cannabis Control Board — the entities to license and regulate the state’s new market for adult-use recreational marijuana — as New Yorkers wait on more specifics to enter the business.

The board will make critical market decisions, such as the number of licenses to grant to cultivators, processors, distributors, dispensaries and others, the application process and acceptance periods.

The Marijuana Regulation and Taxation Act, which Gov. Andrew Cuomo signed into law March 31, legalized recreational marijuana use for adults 21 years of age and older and immediately expunged marijuana-related convictions from New Yorkers’ records. The law established the Office of Cannabis Management, the Cannabis Control Board and Cannabis Advisory Board to regulate the industry.

The control board will consist of five members with three appointed by the governor, including the chair, and one appointment by each of house of the state Legislature. The advisory board will have 13 voting members with seven appointed by the governor and two from each legislative chamber.

Senate Majority Leader Andrea Stewart-Cousins, D-Yonkers, on Tuesday said leaders are reviewing candidates, but not close to making a decision for appointments. [Read more at NNY360]

The post Business owners wait on cannabis board appointments in New York appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

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