New York Governor Signs Legislation To Reign In Illicit Weed Market

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New York Governor Kathy Hochul on Wednesday signed legislation to rein in the state’s illicit marijuana market that includes penalties for unlicensed cannabis retailers of up to $20,000 per day. The new law allows the OCM to assess civil penalties against unlicensed cannabis businesses, with the “most egregious” illicit operators facing fines of up to $20,000 per day. The legislation, which increases civil and tax penalties for the illicit sale of cannabis in New York, was signed into law as part of the state budget for the 2024 fiscal year. The law also makes it a crime to sell cannabis or cannabis products without a license. Last month, she unveiled a consumer ad campaign to encourage consumers to purchase cannabis from licensed dispensaries.

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New York Governor Kathy Hochul on Wednesday signed legislation to rein in the state’s illicit marijuana market that includes penalties for unlicensed cannabis retailers of up to $20,000 per day. The legislation, which increases civil and tax penalties for the illicit sale of cannabis in New York, was signed into law as part of the state budget for the 2024 fiscal year.

Hochul first proposed the new measures to address New York’s underground cannabis market in March as a way to prop up the emerging industry for recreational marijuana, which was legalized...

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