Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 06, 2023 |
returned to assembly passed senate 3rd reading cal.1623 substituted for s1047a |
Jun 06, 2023 |
substituted by a7388 ordered to third reading cal.1623 committee discharged and committed to rules |
May 23, 2023 |
print number 1047a |
May 23, 2023 |
amend and recommit to investigations and government operations |
Jan 09, 2023 |
referred to investigations and government operations |
Senate Bill S1047A
2023-2024 Legislative Session
Sponsored By
(D, WF) 56th Senate District
Current Bill Status Via A7388 - Passed Senate
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2023-S1047 - Details
2023-S1047 - Sponsor Memo
BILL NUMBER: S1047 SPONSOR: COONEY TITLE OF BILL: An act to amend the cannabis law, in relation to sharing information obtained from applicants and licensees SUMMARY OF SPECIFIC PROVISIONS: Section one authorizes the Office of Cannabis Management to share licen- see and applicant information with requesting financial institutions. Section two provides the effective date. JUSTIFICATION: Federal scheduling of cannabis creates challenges to banking licensed cannabis companies. Due to rigorous federal compliance rules and anti- money laundering laws, financial institutions face increased costs and little to no incentive to take on cannabis businesses as clients. A financial institution servicing a cannabis business must make a suspi-
2023-S1047 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1047 2023-2024 Regular Sessions I N S E N A T E January 9, 2023 ___________ Introduced by Sen. COONEY -- 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 sharing information obtained from applicants and licensees THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 11 of the cannabis law is amended by adding a new subdivision 13 to read as follows: 13. TO SHARE ANY AND ALL INFORMATION OBTAINED FROM APPLICANTS AND LICENSEES, AS DEFINED IN SECTION THREE OF THIS CHAPTER, TO REQUESTING FINANCIAL INSTITUTIONS FOR THE PURPOSE OF CONSIDERATION AND COMPLIANCE. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02681-01-3
2023-S1047A (ACTIVE) - Details
2023-S1047A (ACTIVE) - Sponsor Memo
BILL NUMBER: S1047A SPONSOR: COONEY TITLE OF BILL: An act to amend the cannabis law, in relation to sharing information obtained from applicants and licensees SUMMARY OF SPECIFIC PROVISIONS: Section one authorizes the Office of Cannabis Management to share licen- see and applicant information with requesting financial institutions, with the consent of such applicants and licensees. Section two provides the effective date. JUSTIFICATION: Federal scheduling of cannabis creates challenges to banking licensed cannabis companies. Due to rigorous federal compliance rules and anti- money laundering laws, financial institutions face increased costs and little to no incentive to take on cannabis businesses as clients. A
2023-S1047A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1047--A 2023-2024 Regular Sessions I N S E N A T E January 9, 2023 ___________ Introduced by Sen. COONEY -- 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, in relation to sharing information obtained from applicants and licensees THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 11 of the cannabis law is amended by adding a new subdivision 16 to read as follows: 16. TO SHARE ANY AND ALL INFORMATION OBTAINED FROM APPLICANTS AND LICENSEES, AS DEFINED IN SECTION THREE OF THIS CHAPTER, TO REQUESTING FINANCIAL INSTITUTIONS FOR THE PURPOSE OF CONSIDERATION AND COMPLIANCE, WITH THE CONSENT OF SUCH APPLICANTS AND LICENSEES. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02681-04-3
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