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N.Y. State Fin. Law § 89-h

Medical cannabis trust fund

Redline — January 1, 2015 → current.View current text →
Current — January 1, 2025
As of January 1, 2015
* § 89-h. Medical marihuana trust fund. 1. There is hereby established\nin the joint custody of the state comptroller and the commissioner of\ntaxation and finance a special fund to be known as the "medical\nmarihuana trust fund."\n 2. The medical marihuana trust fund shall consist of all moneys\nrequired to be deposited in the medical marihuana trust fund pursuant to\nthe provisions of section four hundred ninety of the tax law.\n 3. The moneys in the medical marihuana trust fund shall be kept\nseparate and shall not be commingled with any other moneys in the\ncustody of the commissioner of taxation and finance and the state\ncomptroller.\n 4. The moneys of the medical marihuana trust fund, following\nappropriation by the legislature, shall be allocated upon a certificate\nof approval of availability by the director of the budget as follows:\n(a) Twenty-two and five-tenths percent of the monies shall be\ntransferred to the counties in New York state in which the medical\nmarihuana was manufactured and allocated in proportion to the gross\nsales originating from medical marihuana manufactured in each such\ncounty; (b) twenty-two and five-tenths percent of the moneys shall be\ntransferred to the counties in New York state in which the medical\nmarihuana was dispensed and allocated in proportion to the gross sales\noccurring in each such county; (c) five percent of the monies shall be\ntransferred to the office of alcoholism and substance abuse services,\nwhich shall use that revenue for additional drug abuse prevention,\ncounseling and treatment services; and (d) five percent of the revenue\nreceived by the department shall be transferred to the division of\ncriminal justice services, which shall use that revenue for a program of\ndiscretionary grants to state and local law enforcement agencies that\ndemonstrate a need relating to title five-A of article thirty-three of\nthe public health law; said grants could be used for personnel costs of\nstate and local law enforcement agencies. For purposes of this\nsubdivision, the city of New York shall be deemed to be a county.\n * NB Repealed July 5, 2021\n
* § 89-h. Medical cannabis trust fund. 1. There is hereby established\nin the joint custody of the state comptroller and the commissioner of\ntaxation and finance a special fund to be known as the "medical cannabis\ntrust fund."\n 2. The medical cannabis trust fund shall consist of all moneys\nrequired to be deposited in the medical cannabis trust fund pursuant to\nthe provisions of section four hundred ninety of the tax law.\n 3. The moneys in the medical cannabis trust fund shall be kept\nseparate and shall not be commingled with any other moneys in the\ncustody of the commissioner of taxation and finance and the state\ncomptroller.\n 4. The moneys of the medical cannabis trust fund, following\nappropriation by the legislature, shall be allocated upon a certificate\nof approval of availability by the director of the budget as follows:\n(a) fifty percent of the monies shall be transferred to the counties in\nNew York state in which the medical cannabis was manufactured and\nallocated in proportion to the gross sales originating from medical\ncannabis manufactured in each such county; and (b) fifty percent of the\nmoneys shall be transferred to the counties in New York state in which\nthe medical cannabis was dispensed and allocated in proportion to the\ngross sales occurring in each such county. For purposes of this\nsubdivision, the city of New York shall be deemed to be a county.\n * NB Repealed July 5, 2028\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.