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New York State Assembly

Speaker Carl E. Heastie
 
     
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S03135 Summary:

BILL NOS03135
 
SAME ASSAME AS A04764
 
SPONSORCOONEY
 
COSPNSRCOMRIE, SCARCELLA-SPANTON
 
MLTSPNSR
 
Rpld §490, Tax L; rpld §89-h, St Fin L
 
Repeals the excise tax on medical cannabis and the medical cannabis trust fund.
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S03135 Text:




 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3135
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    January 23, 2025
                                       ___________
 
        Introduced  by Sens. COONEY, COMRIE, SCARCELLA-SPANTON -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Budget and Revenue
 
        AN  ACT  to repeal section 490 of the tax law relating to the excise tax
          on medical cannabis; and to repeal section 89-h of the  state  finance
          law relating to the medical cannabis trust fund
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 490 of the tax law is REPEALED.
     2    § 2. Section 89-h of the state finance law is REPEALED.
     3    § 3. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01709-01-5
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