New York details cannabis Conditional Adult-Use Retail Dispensary licensing process – Financial Regulation News – Financial Regulation News

New York Office of Cannabis Management (OCM) officials have indicated the agency will begin accepting Conditional Adult-Use Retail Dispensary (CAURD) licenses on Aug. 25, 2022.

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The endeavor is essential to the New York State Seeding Opportunity Initiative. The effort enables the first legal adult-use retail dispensaries to be operated by those most impacted by the enforcement of the prohibition of cannabis via products grown by New York farmers.

“With the Seeding Opportunity Initiative, New York has affirmed our commitment to making sure the first sales are conducted by those harmed by prohibition,” Cannabis Control Board Chairman Tremaine Wright said. We’re writing a new playbook for what an equitable launch of a cannabis industry looks like and hope future states follow our lead.”

Prospective qualifying business applicants must possess a marijuana-related offense conviction that occurred prior to the passage of the Marijuana Regulation and Tax Act (MRTA) on March 31, 2021, or have had a parent, legal guardian, child, spouse, or dependent with a pre-MRTA marijuanarelated offense conviction in the State of New York; and have experience owning and operating a qualifying business.

“In just two weeks, my team will start accepting applications for adult-use retail cannabis dispensaries,” OCM

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