New York State Office of Cannabis Management Releases its “Marihuana Regulation and Taxation Act (MRTA) Implementation Report”

In early October 2024, the New York State Office of Cannabis Management (OCM) published a three-year report on progress made in building various parts of the state’s legal cannabis industry, which encompasses adult-use cannabis, medical cannabis, and cannabinoid hemp industries. The 102-page report, titled “Marihuana Regulation and Taxation Act (MRTA) Implementation Report,” provides an analysis of progress made toward the legislative intent of the MRTA – including economic and fiscal impacts of the industry, impact on public health and safety, social and economic equity goals, eliminating the illicit market, and increasing sustainability – and recommendations for achieving those goals.

“In this Implementation Report, you will learn more about OCM’s vision, one that applies now and carries into the future,” stated Felicia A. B. Reid, Esq., OCM Executive Deputy Director and Acting Executive Director, in a letter included in the Report. “Rooted in equity and a commitment to restorative justice, OCM is actively shaping the next chapter of the market’s potential each day.”

The report highlighted key findings in the various categories.

For economic and fiscal impacts, it noted, for example:

• 1342 adult-use cannabis licenses issued
• $653.9 million generated in total adult-use retail sales revenue as of September 2024

For public health and safety goals:

• 9000 submissions to the incident reporting form
• 15,600 adult-use and medical cannabis lots submitted for laboratory testing

For social and economic equity goals:

• 54.7% adult-use licenses given to social and economic equity (SEE) eligible applicants
• 400,000 cannabis related convictions eligible for expungement

For progress in eliminating the illicit market:

• In 2023, 67% of New Yorkers who consumed cannabis in the past year purchased their products from legal retail sources
• 27,38 lbs. of unlicensed product seized

The OCM is governed by and worked closely with the New York State Cannabis Control Board (CCB) to create the Report.

“As OCM celebrates three years of service to our State, we know there’s still much work ahead, and also, there is much to celebrate,” stated Tremaine Wright, Chair of the CCB in a letter included in the Report. “In this report, you will get to read about our major milestones in economic development, public health, and social equity. The heart and soul of the MRTA is built on equity – and I am proud to report that we continue to surpass our statutory goals in building a richly diverse and vibrant market. OCM has worked closely with us to design a dynamic and responsive licensing and compliance framework – true cornerstones of the market – which we continue to improve upon each and every day, thanks in large part, to your feedback.”

New York’s medical cannabis program first began with the 2014 Compassionate Care Act, and the MRTA was signed into law in 2021.