S 7504 New York Senate · 2023 Regular Session

Expands who can hold membership in an adult-use cooperative license

This bill modifies the cannabis law to allow non-human entities, such as corporations or organizations, to become members of licensed adult-use cooperatives. Currently, only individual people are permitted to hold membership in these cooperatives, which are businesses that allow employees or community members to own shares in the company. By removing the requirement that members must be natural persons, the legislation broadens the pool of potential investors and stakeholders for these specific cannabis businesses. The change takes effect immediately upon passage, altering the eligibility criteria for cooperative membership without changing other aspects of the existing licensing framework.
Bill status passed 3 of 5 stages cleared
Introduction
Jun 2023
Committee Review
Jun 2024
Senate Passage
Jun 2024
Assembly Passage
Governor
Introduced Jun 1, 2023 Last action Jun 5, 2024
Floor votes · Senate Jun 5, 2024

How they voted

47–12
Passed · 3 other
Total votes 62
Jun 5, 2024
D Democratic41
38 Yea 1 Nay 2
92% Yea
R Republican21
9 Yea 11 Nay 1
52% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
8
Key actions
1
Committee
3
Jun 5, 2024
Committee
REFERRED TO ECONOMIC DEVELOPMENT
lower
Jun 5, 2024
Upper · Passed
PASSED SENATE
upper
Jan 3, 2024
Committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
upper
Jun 1, 2023
Committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jamaal Bailey
Jamaal Bailey
DDemocratic/Working Families
NY
36