With little fanfare or advance notice, the Dormitory Authority of the State of New York (“DASNY”) released a request for information (“RFI”) last month to determine interest and solicit information from qualified parties for an investment fund to finance “the establishment and development of adult-use retail cannabis dispensaries (“RCDs”)” for social and economic equity applicants.
The creation of New York’s conditional adult-use retail dispensary license has made headlines. Although New York plans to issue only 50-100 of this new license type, the license type and its underlying rules and regulations is incredibly significant. Why? First, because the OCM and CCB have issued actual rules and regulations that will apply to
We have been watching the debate on California cannabis taxes, including the arguments from child welfare advocates that cannabis tax reductions would harm children. In this post, I’ll explain why this perspective is flawed, and propose a better path forward. The California cannabis tax headache California is potentially overhauling cannabis taxes, a much-needed reform for
As reported (paywall) by the New York Times, New York intends to reserve its first retail licenses to sell marijuana for people convicted of marijuana related offenses, or their relatives. The policy is part of the Marijuana Regulation and Taxation Act’s (MRTA) social and economic equity plan, which Simon Malinowski wrote about in this blog
New York Governor Kathy Hochul announced that New York will establish a $200 million fund to support social and economic equity applicants seeking adult-use cannabis licenses. Governor Hochul made the announcement during her State of the State address last week, on January 5, 2022. It is really easy to talk about prioritizing cannabis social equity
Socially responsible and “sustainable” investing is picking up in popularity across retail and institutional investors alike. According to Wikipedia, “[i]n less than 20 years, the ESG movement has grown from a corporate social responsibility initiative launched by the United Nations into a global phenomenon representing more than US$30 trillion in assets under management.” When it
On November 18, 2021, the Greater Phoenix Urban League and Acre 41 Enterprises, LLC (the “Plaintiffs”), sued the State of Arizona, the Arizona Department of Health Services (the “Department”), Governor Ducey, and the Director of the Department for their purported failure to implement the social equity provisions of Proposition 207 by issuing final regulations that
On Wednesday, a draft bill was released to end America’s federal cannabis prohibition and remove “marijuana” from the Controlled Substances Act. The bill, sponsored by Senate Majority Leader Chuck Schumer (D-NY), Sen. Ron Wyden (D-OR), and Sen. Cory Booker (D-NJ) is titled the Cannabis Administration and Opportunity Act and was introduced as a discussion draft
This past Thursday, President Joe Biden signed legislation making Juneteenth, which commemorates the end of slavery in the United States, a federal holiday. The measure had passed unanimously in the Senate, and in the House by a vote of 415-14. Juneteenth commemorates June 19, 1865, when Gordon Granger, a Union general, arrived in Galveston, Texas
Second verse, same as the first, a whole lot louder and a lot MORE woke. The House of Representatives passed the first version of the MORE Act at the end of 2020. The bill promptly died in the Republican-controlled Senate. This blog tracked the evolution of the bill’s original version: demystifying the bill, dispelling some myths and
