NY A07680

Expands the definition of "industrial hemp" to include all derivatives, extracts, cannabinoids, isomers, acids, and salts with delta-9 tetrahydrocannabinol concentration not exceeding 0.3 percent on a dry weight basis.

Eliminates restrictions on growing, processing, and distributing industrial hemp and hemp products in New York state, allowing these activities pursuant to federal law and state provisions without limiting to pilot programs only.

Establishes a licensing system requiring persons to obtain biennial licenses from the Department of Agriculture to grow, process, or distribute industrial hemp and hemp extract products, with application fees of $500 and per-acre license fees.

Creates a new regulatory framework for hemp extract (Article 29-A) with separate license types for cannabinoid growers, manufacturers, and extractors, including mandatory laboratory testing, packaging/labeling requirements, and record-keeping obligations maintained for five years.

Authorizes the department to issue cannabinoid permits to retailers, wholesalers, and distributors; imposes penalties of up to $1,000 for first violations, $5,000 for second violations, and $10,000 for third and subsequent violations of hemp extract regulations.