Medical Cannabis Trust Fund.

  1. Law
  2. New York Laws
  3. State Finance
  4. Funds of the State
  5. Medical Cannabis Trust Fund.

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* § 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 transferred 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* NB Repealed July 5, 2028



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