BUFFALO, N.Y. (WBEN) - Lieutenant Governor Kathy Hochul said the state wants to see the best practices from other states regarding marijuana regulation.
The recreational use of marijuana for adults was legalized at the end of March. In April, New York established the Office of Cannabis Management, which acts as the regulatory wing of the drug in New York. However, there's been little movement on regulation efforts in the state since April. There is a concern among entrepreneurs that they may not be able to capitalize on the business-side of the drug.
"The only thing waiting does is it puts us behind," Kaelan Castettter, Vice President of the New York Cannabis Growers and Processors Association, said. "It does not alloow New York to lead when it comes to innovation and investigin in communities that have been devastated by the war on drugs and actually achieving true equity in the state."
He said the state needs to act by appointing a control board for OCM and believes politics may be playing a factor.
WBEN asked Lieutenant Governor Kathy Hochul about the delays.
"We want to see the best practices, but also what has been done wrong elsewhere so that in New York State we get it right," Hochul said. "This is very much in the early stages of a program that we believe will generate $350 million in revenue and is going to go to a lot of communities who have been targeted for marijuana possession in the past."
Senate Majority Leader Chuck Schumer on Wednesday unveiled a marijuana decriminalization bill which Hochul said will open up the conversation more widely. This legislation, proposed by Senate Majority Leader Chuck Schumer and other Democrats in the Senate, would decriminalize marijuana at the federal level by removing it from federal controlled substances list.
"There is still a distrust and a concern in our own state that may be legitimate under state law, but what happens if there's a federal prosecution?" Hochul asked. "That's the uncertainty that Senator Schumer wants to address...I think it's a great day for New York to say we have a brand new industry that supports jobs...hard-hit farms that are looking for a new product, the taxation and revenues that are coming back to the community."
Hochul said the state has to get it right and there's no room for error.
Much like the State Liquor Authority acts for bars and restaurants, the Office of Cannabis Management will be charged with issuing licenses for businesses to participate in the adult-use marijuana industry. OCM plans to establish 50% of its licenses to social and economic equity applicants.
"Please continue to monitor the website for updates about licensing and more information about the social and economic equity program," OCM's website reads.
