STATE OF NEW YORK ________________________________________________________________________ 7014 2023-2024 Regular Sessions IN ASSEMBLY May 10, 2023 ___________ Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Ways and Means AN ACT to repeal section 490 of the tax law relating to the excise tax on medical cannabis; and to repeal section 89-h of the state finance law relating to the medical cannabis trust fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 490 of the tax law is REPEALED. 2 § 2. Section 89-h of the state finance law is REPEALED. 3 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09877-01-3