Summary of the Recently Announced New York Cannabis Law – The “Cannabis Regulation and Taxation Act”

On January 15, 2019, as part of his sweeping state budget, New York Governor Andrew Cuomo proposed a plan to legalize, tax and regulate adult-use cannabis (as well as to expunge past cannabis-related criminal records) under his proposed “Cannabis Regulation and Taxation Act.” The new law would cap the number of cultivation, distribution and retail…