senate Bill S8738A

2021-2022 Legislative Session

Establishes the Cannabis Community Reinvestment Act

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Investigations And Government Operations Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 07, 2022 print number 8738a
Apr 07, 2022 amend (t) and recommit to investigations and government operations
Apr 06, 2022 referred to investigations and government operations

S8738 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Cannabis Law
Laws Affected:
Amd §3, add §62-a, Cannabis L; add §312, Fin Serv L

S8738 - Summary

Establishes the Cannabis Community Reinvestment Act; includes requirements for cannabis operators; includes the obligation to reinvest in communities disproportionately impacted by cannabis prohibition including, if applicable, the community such operator is located in; provides for the review of reinvestment plans by the department of financial services.

S8738 - Sponsor Memo

S8738 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8738
 
                             I N  S E N A T E
 
                               April 6, 2022
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the cannabis law, in relation to establishing the Canna-
   bis Community Reinvestment Act
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. This act shall be known and cited as the "Cannabis Communi-
 ty Reinvestment Act".
   § 2. Section 3 of the cannabis law is amended by adding a new subdivi-
 sion 37-a to read as follows:
   37-A. "OPERATOR" MEANS A LICENSEE THAT ACTS AS A CANNABIS PRODUCER FOR
 THE  CULTIVATION OF CANNABIS, A CANNABIS PROCESSOR, A CANNABIS DISTRIBU-
 TOR AND/OR A CANNABIS RETAILER, PROVIDED THAT SUCH BUSINESS INCLUDES ONE
 HUNDRED OR MORE EMPLOYEES.
   § 3. The cannabis law is amended by adding a new section 62-a to  read
 as follows:
   §  62-A.  APPLICATIONS  BY  OPERATORS. ANY APPLICATION SUBMITTED BY AN
 OPERATOR SHALL INCLUDE A PLAN TO REINVEST IN COMMUNITIES  DISPROPORTION-
 ATELY  IMPACTED  BY  CANNABIS  PROHIBITION INCLUDING, IF APPLICABLE, THE
 COMMUNITY SUCH OPERATOR IS LOCATED IN. THE OPERATOR SHALL CONTRIBUTE  AT
 LEAST  TWO PERCENT OF THEIR ANNUAL PROFITS TO COMMUNITIES DISPROPORTION-
 ATELY IMPACTED PURSUANT TO PARAGRAPH (G) OF SUBDIVISION FIVE OF  SECTION
 EIGHTY-SEVEN  OF  THIS  ARTICLE. THE BOARD SHALL DETERMINE THE NECESSARY
 CRITERIA FOR SUCH PLAN AND SHALL ESTABLISH A SCORING SYSTEM TO DETERMINE
 IF SUCH OPERATORS HAVE FULFILLED THEIR OBLIGATION UNDER THIS SECTION. IF
 THE BOARD DETERMINES THAT AN  OPERATOR  IS  FAILING  TO  PROPERLY  SERVE
 DISADVANTAGED  COMMUNITIES, SPECIFICALLY THE COMMUNITY THEY ARE SERVING,
 IF APPLICABLE, OR DOES NOT POSSESS  AND/OR  PROPERLY  EXECUTE  A  SOCIAL
 IMPACT PROGRAM WITHIN THEIR BUSINESS MODEL, SUCH OPERATOR SHALL BE NOTI-
 FIED  AND  THEIR  LICENSE  SHALL BE MARKED FOR FURTHER REVIEW. THE BOARD
 SHALL DETERMINE WHAT NECESSARY STEPS SUCH OPERATOR SHALL TAKE TO FULFILL
 THE OBLIGATIONS UNDER THIS SECTION AND PROVIDE SUCH INFORMATION  TO  THE
 OPERATOR WITHIN THIRTY DAYS OF MARKING SUCH OPERATOR FOR FURTHER REVIEW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

S8738A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Cannabis Law
Laws Affected:
Amd §3, add §62-a, Cannabis L; add §312, Fin Serv L

S8738A (ACTIVE) - Summary

Establishes the Cannabis Community Reinvestment Act; includes requirements for cannabis operators; includes the obligation to reinvest in communities disproportionately impacted by cannabis prohibition including, if applicable, the community such operator is located in; provides for the review of reinvestment plans by the department of financial services.

S8738A (ACTIVE) - Sponsor Memo

S8738A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8738--A
 
                             I N  S E N A T E
 
                               April 6, 2022
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations  --  committee  discharged,  bill  amended,   ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend  the  cannabis law and the financial services law, in
   relation to establishing the Cannabis Community Reinvestment Act

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and cited as the "Cannabis Communi-
 ty Reinvestment Act".
   § 2. Section 3 of the cannabis law is amended by adding a new subdivi-
 sion 37-a to read as follows:
   37-A. "OPERATOR" MEANS A LICENSEE THAT ACTS AS A CANNABIS PRODUCER FOR
 THE  CULTIVATION OF CANNABIS, A CANNABIS PROCESSOR, A CANNABIS DISTRIBU-
 TOR AND/OR A CANNABIS RETAILER, PROVIDED THAT SUCH BUSINESS HAS OPERATED
 FOR AT LEAST TWO YEARS.
   § 3. The cannabis law is amended by adding a new section 62-a to  read
 as follows:
   §  62-A.  APPLICATIONS  BY  OPERATORS. ANY APPLICATION SUBMITTED BY AN
 OPERATOR SHALL INCLUDE A PLAN TO REINVEST IN COMMUNITIES  DISPROPORTION-
 ATELY  IMPACTED  BY  CANNABIS  PROHIBITION INCLUDING, IF APPLICABLE, THE
 COMMUNITY SUCH OPERATOR IS LOCATED IN. THE OPERATOR SHALL CONTRIBUTE  AT
 LEAST  TWO PERCENT OF THEIR ANNUAL PROFITS TO COMMUNITIES DISPROPORTION-
 ATELY IMPACTED PURSUANT TO PARAGRAPH (G) OF SUBDIVISION FIVE OF  SECTION
 EIGHTY-SEVEN  OF  THIS  ARTICLE. THE BOARD SHALL DETERMINE THE NECESSARY
 CRITERIA FOR SUCH PLAN AND SHALL ESTABLISH A SCORING SYSTEM TO DETERMINE
 IF SUCH OPERATORS HAVE FULFILLED THEIR OBLIGATION UNDER THIS SECTION.
   § 4. The financial services law is amended by adding a new section 312
 to read as follows:
   § 312. EVALUATION OF REINVESTMENT PLANS. THE DEPARTMENT SHALL EVALUATE
 THE PLANS BY OPERATORS, AS DEFINED IN SECTION THREE OF THE CANNABIS LAW,
 TO REINVEST IN SPECIFIED COMMUNITIES AND PROVIDE FOR THE ENFORCEMENT  OF
 THE CANNABIS COMMUNITY REINVESTMENT ACT, PURSUANT TO SECTION SIXTY-TWO-A
 OF  THE CANNABIS LAW, IN CONSULTATION WITH THE BOARD.  IF THE DEPARTMENT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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