Section 89-H - [Effective Until 7/5/2028] Medical cannabis trust fund1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a special fund to be known as the "medical cannabis trust fund."2. The medical cannabis trust fund shall consist of all moneys required to be deposited in the medical cannabis trust fund pursuant to the provisions of section four hundred ninety of the tax law.3. The moneys in the medical cannabis trust fund shall be kept separate and shall not be commingled with any other moneys in the custody of the commissioner of taxation and finance and the state comptroller.4. The moneys of the medical cannabis trust fund, following appropriation by the legislature, shall be allocated upon a certificate of approval of availability by the director of the budget as follows: (a) fifty percent of the monies shall be transferred to the counties in New York state in which the medical cannabis was manufactured and allocated in proportion to the gross sales originating from medical cannabis manufactured in each such county; and (b) fifty percent of the moneys shall be transferred to the counties in New York state in which the medical cannabis was dispensed and allocated in proportion to the gross sales occurring in each such county. For purposes of this subdivision, the city of New York shall be deemed to be a county.N.Y. State Fin. Law § 89-H
Amended by New York Laws 2024, ch. 59,Sec. T-2, eff. 4/20/2024.Amended by New York Laws 2022, ch. 56,Sec. FFF-28, eff. 4/9/2022, op. 4/1/2022.Amended by New York Laws 2021, ch. 92,Sec. 50, eff. 3/31/2021.Amended by New York Laws 2021, ch. 92,Sec. 41, eff. 3/31/2021.Added by New York Laws 2014, ch. 90,Sec. 5, eff. 7/5/2014.