Marijuana Regulation and Taxation Act (MRTA)

"I am proud to sign this bill, which positions New York's farmers to be the first to grow cannabis and jumpstart the safe, equitable and inclusive new industry we are building: Gov. Hochul said.

The signing of this bill, farmers can now put seeds in the ground to meet, what will be a growing demand. What farmers have to understand, this is a conditional cannabis cultivation license for up to 2 years. It allows them to manufacture and distribute cannabis flower products without holding an adult-use processor or distributor license.

Cultivators are then limited to one acre of flowering cannabis outdoors or 25,000 square feet in a greenhouse. They can also split between outdoors and greenhouse growing with a maximum total of 30,000 square feet, if the greenhouse operation is under 20,000 of that total.

Cannabis will become the new burgeon industry in New York State and insurance companies are starting to realize this too.