Legislation
SECTION 89-H
Medical cannabis trust fund
State Finance (STF) CHAPTER 56, ARTICLE 6
* § 89-h. Medical cannabis trust fund. 1. There is hereby established
in the joint custody of the state comptroller and the commissioner of
taxation and finance a special fund to be known as the "medical cannabis
trust fund."
2. The medical cannabis trust fund shall consist of all moneys
required to be deposited in the medical cannabis trust fund pursuant to
the provisions of section four hundred ninety of the tax law.
3. The moneys in the medical cannabis trust fund shall be kept
separate and shall not be commingled with any other moneys in the
custody of the commissioner of taxation and finance and the state
comptroller.
4. The moneys of the medical cannabis trust fund, following
appropriation by the legislature, shall be allocated upon a certificate
of approval of availability by the director of the budget as follows:
(a) Twenty-two and five-tenths percent of the monies shall be
transferred to the counties in New York state in which the medical
cannabis was manufactured and allocated in proportion to the gross sales
originating from medical cannabis manufactured in each such county; (b)
twenty-two and five-tenths percent of the moneys shall be transferred to
the counties in New York state in which the medical cannabis was
dispensed and allocated in proportion to the gross sales occurring in
each such county; (c) five percent of the monies shall be transferred to
the office of addiction services and supports, which shall use that
revenue for additional drug abuse prevention, counseling and treatment
services; (d) five percent of the revenue received by the department
shall be transferred to the division of criminal justice services, which
shall use that revenue for a program of discretionary grants to state
and local law enforcement agencies that demonstrate a need relating to
article three of the cannabis law; said grants could be used for
personnel costs of state and local law enforcement agencies; and (e)
forty-five percent of the monies shall be deposited to the New York
state cannabis revenue fund. For purposes of this subdivision, the city
of New York shall be deemed to be a county.
* NB Repealed July 5, 2028
in the joint custody of the state comptroller and the commissioner of
taxation and finance a special fund to be known as the "medical cannabis
trust fund."
2. The medical cannabis trust fund shall consist of all moneys
required to be deposited in the medical cannabis trust fund pursuant to
the provisions of section four hundred ninety of the tax law.
3. The moneys in the medical cannabis trust fund shall be kept
separate and shall not be commingled with any other moneys in the
custody of the commissioner of taxation and finance and the state
comptroller.
4. The moneys of the medical cannabis trust fund, following
appropriation by the legislature, shall be allocated upon a certificate
of approval of availability by the director of the budget as follows:
(a) Twenty-two and five-tenths percent of the monies shall be
transferred to the counties in New York state in which the medical
cannabis was manufactured and allocated in proportion to the gross sales
originating from medical cannabis manufactured in each such county; (b)
twenty-two and five-tenths percent of the moneys shall be transferred to
the counties in New York state in which the medical cannabis was
dispensed and allocated in proportion to the gross sales occurring in
each such county; (c) five percent of the monies shall be transferred to
the office of addiction services and supports, which shall use that
revenue for additional drug abuse prevention, counseling and treatment
services; (d) five percent of the revenue received by the department
shall be transferred to the division of criminal justice services, which
shall use that revenue for a program of discretionary grants to state
and local law enforcement agencies that demonstrate a need relating to
article three of the cannabis law; said grants could be used for
personnel costs of state and local law enforcement agencies; and (e)
forty-five percent of the monies shall be deposited to the New York
state cannabis revenue fund. For purposes of this subdivision, the city
of New York shall be deemed to be a county.
* NB Repealed July 5, 2028