Business of cannabis write
New York’s Cannabis Control Board (CCB) voted to approve a string of new measures last week which will see a cap on the amount of THC allowed in hemp products, establish fees for licensed cannabis labs, and renew medical cannabis registrations.
In July this year, the CCB voted to file an ‘emergency and proposed cannabinoid hemp regulation in response to the proliferation of intoxication cannabinoid hemp products in the marketplace’.
This measure is related to the rise in products which have been processed from hemp flower, defined federally by the 2018 Farm Bill as cannabis flower that is tested below 0.3% THC, that have ‘intoxicating’ levels of THC.
According to Finger Lakes Daily News, following a two month public comment period and analysis of numerous studies, the regulator has established a new appropriate limit on the level of THC allowed in each recommended serving, set to be brought into force ‘upon publication in the State Register’.
Meanwhile, the CCB also voted to establish fees for licensed cannabis labs. These will now be 1% of the labs’ gross annual receipts or $1000, whichever number is greater.
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