New York S 6234: Establishes a personal income tax credit for the purchase of a gun safe

Bill Text

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S06234 Summary:

BILL NOS06234 

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SAME ASSAME AS A05647

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SPONSORSANDERS

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COSPNSRFERNANDEZ

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MLTSPNSR

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Amd §3, add §62-a, Cannabis L; add §312, Fin Serv L

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Establishes the Cannabis Community Reinvestment Act; includes requirements for cannabis operators; includes the obligation to reinvest in communities disproportionately impacted by cannabis prohibition including, if applicable, the community such operator is located in; provides for the review of reinvestment plans by the department of financial services.

Go to top S06234 Actions:

BILL NOS06234 

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03/07/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

01/07/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Go to topS06234 Committee&nbspVotes:

Go to topS06234 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06234 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6234

 2025-2026 Regular Sessions

 IN SENATE

 March 7, 2025
 ___________

 Introduced by Sen. SANDERS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern-
 ment Operations

 AN ACT to amend the cannabis law and the financial services law, in
 relation to establishing the Cannabis Community Reinvestment Act

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and cited as the "Cannabis Communi-
 2 ty Reinvestment Act".
 3 § 2. Section 3 of the cannabis law is amended by adding a new subdivi-
 4 sion 37-a to read as follows:
 5 37-a. "Operator" means a licensee that acts as a cannabis producer for
 6 the cultivation of cannabis, a cannabis processor, a cannabis distribu-
 7 tor and/or a cannabis retailer, provided that such business has operated
 8 for at least two years.
 9 § 3. The cannabis law is amended by adding a new section 62-a to read
 10 as follows:
 11 § 62-a. Applications by operators. Any application submitted by an
 12 operator shall include a plan to reinvest in communities disproportion-
 13 ately impacted by cannabis prohibition including, if applicable, the
 14 community such operator is located in. The operator shall contribute at
 15 least two percent of their annual profits to communities disproportion-
 16 ately impacted pursuant to paragraph (g) of subdivision five of section
 17 eighty-seven of this article. The board shall determine the necessary
 18 criteria for such plan and shall establish a scoring system to determine
 19 if such operators have fulfilled their obligation under this section.
 20 § 4. The financial services law is amended by adding a new section 312
 21 to read as follows:
 22 § 312. Evaluation of reinvestment plans. The department shall evaluate
 23 the plans by operators, as defined in section three of the cannabis law,
 24 to reinvest in specified communities and provide for the enforcement of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06013-01-5

 S. 6234 2

 1 the cannabis community reinvestment act, pursuant to section sixty-two-a
 2 of the cannabis law, in consultation with the board. If the department
 3 determines that an operator is failing to properly serve disadvantaged
 4 communities, specifically the community they are serving, if applicable,
 5 or does not possess and/or properly execute a social impact program
 6 within their business model, such operator shall be notified and their
 7 license shall be marked for further review. The department shall deter-
 8 mine what necessary steps such operator shall take to fulfill the obli-
 9 gations under this section and provide such information to the operator
 10 within thirty days of marking such operator for further review. Such
 11 operator will then have sixty days to take such steps. Notwithstanding
 12 any provision of law to the contrary, if the department determines that
 13 such steps or substantially similar steps, as determined by the board,
 14 were not taken, the department may revoke such operator's license or
 15 licenses. The department shall establish an appeals process for opera-
 16 tors that have had their licenses revoked. If such revocation occur