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Recently, New York released plans that aim to make the state’s cannabis industry more equitable. Governor Kathy Hochul explained that the first adult-use retail licenses in the state will go to those with prior cannabis-related offenses. The program is called the Seeding Opportunity Initiative. The initiative includes conditional adult-use dispensary licenses for social-equity applicants and those conditional licenses for hemp farmers, in addition to the $200 million social equity investment program outlined by Hochul’s 2023 Executive Budget. However, the 2022 potential start date is unexpected, as it was previously indicated that adult-use licenses would not be awarded until at least the spring of 2023.
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