PARK STRATEGIES NEWSLETTER OCTOBER 2021
Governor Hochul signed 91 bills this month. Of particular interest were S2523 (Rivera) / A868 (Gottfried) which decriminalizes possession of hypodermic needles; S2819A (Addabbo) / A754A (Pheffer Amato) which prohibits the sale of whipped cream chargers to persons under the age of 21; and S3280A (Cooney) / A1131A (Bronson) which enacts the Rochester Housing Court Act.
Upcoming Public Hearings
~November 8th, Senate Standing Committee on Insurance. Topic: To determine if insurance companies should be allowed to continue to exclude from coverage damages caused by lead-based paint exposure.
~November 9th, Senate Standing Committees on Ethics and Internal Governance, Higher Education. Topic: To discuss campus sexual assault.
~November 16th, Senate Standing Committee on Higher Education. Topic: Maintaining Quality, Equity, and Affordability in Public Higher Education throughout the Pandemic and Beyond.
~November 17th, Senate Standing Committee on Cities 2. Topic: A follow up to an eight-city tour and to learn how the committee can better address municipal needs.
~November 22nd, Senate Standing Committee on Higher Education. Topic: Maintaining Quality, Equity, and Affordability in Public Higher Education throughout the Pandemic and Beyond. ~November 30th, Senate Standing Committee on Health and Housing. Topic: To discuss Childhood Lead Poisoning in New York State
Check here for the full list.
From the Governor
From the Governor
Mental Health Funding: Governor Hochul announced $21 million in funds will be made available to strengthen New York State’s mental health workforce.
Additional Appointments Announced:
There were no Executive Orders of particular interest. EO updates can be found here.
From the NYS Attorney General
NYS AG Warns of Deceptive Cannabis Products Sold in Snack Packaging
NYS AG Tish James has issued a warning to parents concerning products that are deceptively designed to look like regular snack foods and candy but instead contain high levels of cannabis and tetrahydrocannabinol (THC). These products are illegal and unregulated in New York State.
NYS AG Directs Unregistered Crypto Lending Platforms to Cease Operations
NY AG Tish James ordered two cryptocurrency lending platforms to immediately cease operations after failing to properly register with New York State. These lending platforms are essentially interest barring accounts that offer investors a rate of return on virtual currencies that are deposited with them. These platforms are required to register with the Office of the Attorney General in NY if they are offering their products to New Yorkers.
From the NYS Comptroller
NYS Tax Receipts Beat Projections by $7.2 Billion
New York State Tom DiNapoli released the monthly State Cash Report, showing New York State tax collection estimates up $7.2 billion over the State Fiscal Year 2021-22 estimates contained in the Enacted Budget Financial Plan forecast. The overall tax receipts through September totaled $52.9 billion, bolstered by collections from the higher tax rates included in the 2021-22 Enacted State Budget.
Wall St. 2021 Approaches Record Levels
New York State Comptroller Tom DiNapoli released a report detailing a strong first half of 2021 as Wall Street profits of $31 Billion represent a 12.5% increase over the same period of 2020. These profits were supported by record low interest rates, strong trading volume, and record earnings in subsectors like global equities. The Comptroller was careful to warn investors the economic markets are cyclical, and as such the market will experience a reduction in profits at some point.
From the NYS Office of Cannabis Management (OCM)
Announcing 21 New Hires
The Cannabis Control Board held its first meeting on October 5 and among other items announced the hiring of 21 personnel to fill key staff positions at the OCM. The Board also confirmed Jason Starr as Chief Equity Officer. The Board has also announced proposed regulations for home cultivation of medical cannabis. According to the announcement, they have been submitted to the Department of State to be published in the NYS Register for public comment.
From the NYS Department of Labor
The New York State Department of Labor released guidance related to adult use cannabis and the workplace. The guidance is intended to address common workplace situations including action employers can take against employees using cannabis on the job as well as frequently asked questions related to the Marijuana Regulation and Taxation Act (MRTA) which legalized recreational adult use cannabis.
PSLLC Cannabis Practice Group
Know How and Networking to Get Your Cannabis Business Growing Today Seminar
The PSLLC Cannabis Practice Group recently co-sponsored and participated in a NY Cannabis Insider Live Seminar attended by over 180 industry leaders including speakers such as Cannabis Control Board Chair Tremaine Wright, Albany Mayor Kathy Sheehan, and Ithaca Mayor Svante Myrick. Topics included licensing options & preparation, cannabis industry staffing and recruitment, as well as challenges facing public officials as they navigate cannabis in their communities.