We’ve seen some interesting developments in the cannabis space since our last issue. First, was the proposed change in the regulation of hemp-based CBD products in the State. While we’re excited about improvements for consumer safety, we’re worried about our many friends in the hemp space that have worked hard to grow or source quality hemp flower. (As I type this, the legislation in its current form would prohibit the sale of Hemp CBD flower). Governor Cuomo again promised to legalize (recreational) cannabis for adults this year. In the wake of the budget deficit caused by COVID-19, NY needs all the tax revenue it can get.
I fully support legalization and believe that a regulated market is safer for everyone. However, tax revenue from cannabis will not go directly to those hurt by prohibition, instead, it will be sent to the State and they will decide what to do with it. A key aspect of the State’s legalization bill will be details regarding the reinvestment of that tax money into communities wronged by prohibition. Hopefully, NY can get this right.
Joe Biden won the election and I’m optimistic that positive change in cannabis and drug policy reform is on the horizon. The MORE Act and Medical Marijuana Research Act both passed in the House but will need to pass again in the house and senate next legislative session. Another largely symbolic win was the rescheduling of cannabis by the United Nations.
If you’re a fan of our magazine please visit us online at CannaBuff.com and subscribe for updates (you can also subscribe to receive copies via mail or e-mail). Our website is home to valuable resources and information for WNYers and the cannabis community at large. For locals interested in this evolving industry, our WNY business directory offers contact information for all cannabis and ancillary businesses in the region. For those curious about cannabis, we have a Question and Answer forum where absolutely anyone can submit a question about cannabis, and a licensed pharmacist (and medical marijuana practitioner) answers your question free of charge. You can also search for medical marijuana practitioners or get certified by our affiliate.
Any Questions or Comments please feel free to get in touch with us. We hope you enjoy the issue.