Bill Text: NY S02567 | 2023-2024 | General Assembly | Introduced
Bill Title: Requires a study of the implementation of medical marihuana in regards to banking, tax revenue collection, and employment tax collection issues.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO HEALTH [S02567 Detail]
Download: New_York-2023-S02567-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2567 2023-2024 Regular Sessions IN SENATE January 23, 2023 ___________ Introduced by Sen. COONEY -- read twice and ordered printed, and when printed to be committed to the Committee on Health AN ACT to amend the public health law, in relation to requiring a study of the implementation of medical marihuana in regards to banking, tax revenue collection, and employment tax collection issues The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 3369-e of the public health law is renumbered 2 3369-f and a new section 3369-e is added to read as follows: 3 § 3369-e. Study. 1. The commissioner is hereby authorized and directed 4 to study implementation of this title in regards to banking, tax revenue 5 collection, and employment tax collection issues. 6 2. Such study shall include, but not be limited to examining: the 7 method used by the department of taxation and finance to collect and 8 transfer money relating to the business of medical marihuana; the method 9 used by the regulating authorities to collect worker taxes, workers 10 compensation payments, and unemployment insurance contributions; and 11 banking opportunities for the registered organizations licensed pursuant 12 to section thirty-three hundred sixty-five of this title. 13 3. This study shall be conducted by a qualified entity with experience 14 in the regulatory implementation of and market for the medical marihuana 15 industry in other states with programs that have developed beyond that 16 of New York state. 17 4. Such study shall be completed and submitted to the legislature no 18 later than January sixteenth, two thousand twenty-four. 19 5. Nothing in this section shall be construed to delay implementation 20 of this title pending the outcome of this study. 21 § 2. This act shall take effect immediately; provided however that the 22 amendments to title 5-A of article 33 of the public health law made by 23 section one of this act shall not affect the repeal of such title and 24 shall be deemed repealed therewith. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06520-01-3