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Assembly Bill A4764

2025-2026 Legislative Session

Repeals the excise tax on medical cannabis and the medical cannabis trust fund

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Current Bill Status - In Assembly Committee

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2025-A4764 (ACTIVE) - Details

See Senate Version of this Bill:
S3135
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Rpld §490, Tax L; rpld §89-h, St Fin L
Versions Introduced in 2023-2024 Legislative Session:
A7014, S5365

2025-A4764 (ACTIVE) - Summary

Repeals the excise tax on medical cannabis and the medical cannabis trust fund.

2025-A4764 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4764
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2025
                                ___________
 
 Introduced  by M. of A. PEOPLES-STOKES, LUPARDO, HEVESI, REYES, SIMON --
   read once and referred to the Committee on Ways and Means
 
 AN ACT to repeal section 490 of the tax law relating to the  excise  tax
   on  medical  cannabis; and to repeal section 89-h of the state finance
   law relating to the medical cannabis trust fund

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 490 of the tax law is REPEALED.
   § 2. Section 89-h of the state finance law is REPEALED.
   § 3. This act shall take effect immediately.
 
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01709-01-5

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