Bill > S03135

This bill proposes to repeal two specific sections of New York state law related to medical cannabis taxation and funding. Specifically, it eliminates Section 490 of the tax law, which previously established an excise tax on medical cannabis, and Section 89-h of the state finance law, which created a medical cannabis trust fund. By repealing these sections, the bill effectively removes the dedicated tax on medical cannabis and the associated trust fund where those tax revenues were collected. The bill would take effect immediately upon passage, meaning the tax and trust fund would be eliminated as soon as the legislation is signed into law. This change could potentially reduce the financial burden on medical cannabis patients and alter the funding mechanism for medical cannabis programs in the state.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S3135