New York Senate Passes Gray Market Cannabis Bill

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Fines for Illicit Weed Doubled in New York Fines for illicit cannabis would be increased from $200 per ounce of flower to $400 per ounce. The New York Senate voted this week to approve a bill to crack down on the state’s cannabis gray market, giving regulators the authority to seize illicit weed and increasing fines for unlicensed operators. The bill also allows the Taxation and Finance Department to revoke certificates of registration for businesses that sell or possess illicit cannabis. Fines for other cannabis products would also be doubled, with edibles rising to $10 per milligram of THC and concentrates to $100 per gram, while the fine for each illicit cannabis plant would jump to $1,000. Flagg clarified that the legislation applies to any cannabis product that was not grown by or purchased from a cannabis business licensed by the state.

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The New York Senate voted this week to approve a bill to crack down on the state’s cannabis gray market, giving regulators the authority to seize illicit weed and increasing fines for unlicensed operators. State Senator Liz Krueger introduced the measure on Sunday and by Wednesday, the Senate had voted to approve the bill, offering an indication of the legislature’s interest in addressing New York’s unregulated pot market before legal sales of recreational cannabis begin later this year.

Justin Flagg, a spokesperson for Krueger, said that the bill is designed to empower the New York Office of Cannabis Management (OCM) and the Department of Taxation...

Read the full article @ High Times