Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to investigations and government operations |
Jan 13, 2023 |
referred to investigations and government operations |
Senate Bill S1749
2023-2024 Legislative Session
Sponsored By
(D) 10th Senate District
Current Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-S1749 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10488
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Cannabis Law
- Laws Affected:
- Amd §3, add §62-a, Cannabis L; add §312, Fin Serv L
- Versions Introduced in 2021-2022 Legislative Session:
-
S8738
2023-S1749 (ACTIVE) - Summary
Establishes the Cannabis Community Reinvestment Act; includes requirements for cannabis operators; includes the obligation to reinvest in communities disproportionately impacted by cannabis prohibition including, if applicable, the community such operator is located in; provides for the review of reinvestment plans by the department of financial services.
2023-S1749 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1749 SPONSOR: SANDERS TITLE OF BILL: An act to amend the cannabis law and the financial services law, in relation to establishing the Cannabis Community Reinvestment Act PURPOSE OR GENERAL IDEA OF BILL: This bill would require operators in the cannabis industry to create a plan to reinvest in communities disproportionately impacted by cannabis prohibition including, if applicable, the community such operator is located in for purposes of social equity. SUMMARY OF PROVISIONS: Section One: Called the "Cannabis Community Reinvestment Act." Section 2: "operator" means a license that acts as a cannabis producer for the cultivation of cannabis, a cannabis processor, a cannabis distributor and/or a cannabis retailer that has been in operation at
2023-S1749 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1749 2023-2024 Regular Sessions I N S E N A T E January 13, 2023 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the cannabis law and the financial services law, in relation to establishing the Cannabis Community Reinvestment Act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and cited as the "Cannabis Communi- ty Reinvestment Act". § 2. Section 3 of the cannabis law is amended by adding a new subdivi- sion 37-a to read as follows: 37-A. "OPERATOR" MEANS A LICENSEE THAT ACTS AS A CANNABIS PRODUCER FOR THE CULTIVATION OF CANNABIS, A CANNABIS PROCESSOR, A CANNABIS DISTRIBU- TOR AND/OR A CANNABIS RETAILER, PROVIDED THAT SUCH BUSINESS HAS OPERATED FOR AT LEAST TWO YEARS. § 3. The cannabis law is amended by adding a new section 62-a to read as follows: § 62-A. APPLICATIONS BY OPERATORS. ANY APPLICATION SUBMITTED BY AN OPERATOR SHALL INCLUDE A PLAN TO REINVEST IN COMMUNITIES DISPROPORTION- ATELY IMPACTED BY CANNABIS PROHIBITION INCLUDING, IF APPLICABLE, THE COMMUNITY SUCH OPERATOR IS LOCATED IN. THE OPERATOR SHALL CONTRIBUTE AT LEAST TWO PERCENT OF THEIR ANNUAL PROFITS TO COMMUNITIES DISPROPORTION- ATELY IMPACTED PURSUANT TO PARAGRAPH (G) OF SUBDIVISION FIVE OF SECTION EIGHTY-SEVEN OF THIS ARTICLE. THE BOARD SHALL DETERMINE THE NECESSARY CRITERIA FOR SUCH PLAN AND SHALL ESTABLISH A SCORING SYSTEM TO DETERMINE IF SUCH OPERATORS HAVE FULFILLED THEIR OBLIGATION UNDER THIS SECTION. § 4. The financial services law is amended by adding a new section 312 to read as follows: § 312. EVALUATION OF REINVESTMENT PLANS. THE DEPARTMENT SHALL EVALUATE THE PLANS BY OPERATORS, AS DEFINED IN SECTION THREE OF THE CANNABIS LAW, TO REINVEST IN SPECIFIED COMMUNITIES AND PROVIDE FOR THE ENFORCEMENT OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05996-01-3
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