Bill Text: NY S05365 | 2023-2024 | General Assembly | Introduced

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Bill Title: Repeals the excise tax on medical cannabis and the medical cannabis trust fund.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2024-01-03 - REFERRED TO BUDGET AND REVENUE [S05365 Detail]

Download: New_York-2023-S05365-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5365

                               2023-2024 Regular Sessions

                    IN SENATE

                                      March 2, 2023
                                       ___________

        Introduced  by Sens. COONEY, SCARCELLA-SPANTON -- read twice and ordered
          printed, and when printed to be committed to the Committee  on  Budget
          and Revenue

        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 Section 490 of the tax law is REPEALED.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 Section 89-h of the state finance law is REPEALED.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