The 1 thing NY was waiting on has finally happened. How 30,000 acres will change the state.
Governor signs hemp bill:
Farmers are ecstatic as the NY governor has finally passed a bill allowing them to raise hemp. By signing this bill, Gov. Kathy Hochul is hoping to "... secure enough safe, regulated, and environmentally conscious cannabis products to meet the demand of adult-use cannabis market when retail dispensaries open." Retail will make its first sales sometime in 2022; the state is still trying to iron out some details within the programs.
The bill will give plenty of farmland for the farmers to grow hemp with a whopping 30,000 acres of industrial land. Even though there is quite a bit of space to go around, it will take overcoming a strict licensing program to get in on the action. The new plan sets regulations concerning testing, sampling, etc. It will also require applicants to be subject to the FBI Identity History Summary Check. The process is a lot; however, if everything checks out, you will be permitted to grow hemp in the state of NY.
Why the bill is good for NY:
With NY able to grow its hemp, the state will regulate the product and meet its standards. Not only can they regulate hemp inclusively, but they also do not have to depend on others to grow hemp for them.
Signing the bill was a good move for New York. The state hopes to bring in 1.25 billion dollars in tax revenue within the first six years. Growing its hemp will allow New York to be on top of things keeping the program up and running for years to come.