ALBANY, N.Y. (WRGB) — The clock is ticking for New York Governor Kathy Hochul to sign a bill aimed at helping struggling marijuana farmers impacted by the state’s stalled launch of the retail market.
As farmers sit on hundreds of thousands of pounds of unsold cannabis, the Cannabis Crop Rescue Act would open the market up to tribal nations.
The bill has gained bipartisan support, with both democratic and republican state lawmakers urging the governor to sign the bill, which the legislature passed months ago.
The Chairs of the Senate and Assembly Agriculture Committees, Senator Michelle Hinchey (D) and Assemblywoman Donna Lupardo (D), together with their respective Ranking Members, Senator George Borrello (R) and Assemblyman Chris Tague (R) issued a joint statement on Wednesday calling on Hochul to sign the bill before it’s too late.
“In June, we supported and passed a bill through both houses of the Legislature that would allow NY-based Tribal Nations to purchase a portion of our oversupply (A7375/S7295). We are urging the Governor to quickly sign this short-term solution, one that will help provide some measure of relief to what is quickly becoming an agricultural emergency,” said the statement.
Since marijuana has a shelf life, the nearly 250-thousand pounds of unsold cannabis loses value with each passing day– and it’s money that these farmers may never recoup.
By opening the market up to tribal nations, lawmakers believe this provides a short term solution to address the delay in cannabis market rollout.
“There are farmers right now that have invested a lot of money and in some cases are in the brink of bankruptcy as a result of the failed attempt to roll out a legal marijuana market in New York State,” said Borrello.
With this bill passed months ago, Senator Borrello says he’s baffled as to why the governor has yet to sign it.
“So when we’ve had little to no market on what’s coming up to be the third harvest season that means you’re going to have millions of dollars worth of cannabis that’s not going to be able to be sold, so this is an urgent issue,” said Borrello.
Tribal Nations have told CBS 6 they support this bill because it’ll help them stock their dispensaries with safe, lab-tested cannabis products.
Out of the more than 450 CAURD license holders, only 23 have been able to open up dispensaries after legal challenges have halted more from opening.
Wednesday’s plea comes after cannabis regulations approved on Tuesday has given large medical marijuana companies the green light to take part in the state’s adult-use cannabis market– which these small business farmers say they can’t compete with.
H/T: cbs6albany.com
