Bill
Bill > A08808
NY A08808
NY A08808Permits deductions for commercial cannabis activity including the cultivation, possession, manufacture, distribution, processing, storing, laboratory testing, packaging, labeling, transportation, delivery, or sale of cannabis and cannabis products, or acting as the holder of an adult-use on-site consumption license.
summary
Introduced
01/12/2022
01/12/2022
In Committee
01/12/2022
01/12/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Permits deductions for commercial cannabis activity including the cultivation, possession, manufacture, distribution, processing, storing, laboratory testing, packaging, labeling, transportation, delivery, or sale of cannabis and cannabis products, or acting as the holder of an adult-use on-site consumption license.
AI Summary
This bill permits deductions for commercial cannabis activity, including the cultivation, possession, manufacture, distribution, processing, storing, laboratory testing, packaging, labeling, transportation, delivery, or sale of cannabis and cannabis products, or acting as the holder of an adult-use on-site consumption license. The provisions of Section 280E of the Internal Revenue Code, which disallows deductions for expenditures in connection with the illegal sale of drugs, will not apply to these commercial cannabis activities. The bill is effective from January 1, 2022, until January 1, 2025, after which it will be repealed.
Committee Categories
Budget and Finance
Sponsors (14)
Aileen Gunther (D)*,
Donna Lupardo (D)*,
Inez Dickens (D),
Patricia Fahy (D),
Eddie Gibbs (D),
Richard Gottfried (D),
Chantel Jackson (D),
Jonathan Jacobson (D),
Kimberly Jean-Pierre (D),
John McDonald (D),
Crystal Peoples-Stokes (D),
Jo Anne Simon (D),
Al Stirpe (D),
Carrie Woerner (D),
Last Action
referred to ways and means (on 01/12/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A8808 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A08808&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A08808 |
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