NY S06612

Establishes licensing requirements for growing, processing, extracting, and selling industrial hemp and hemp extract in New York State, effective January 1, 2020.

Defines "hemp extract" as products derived from industrial hemp containing no more than 0.3 percent delta-9 tetrahydrocannabinol when packaged or sold, with regulations to be developed by the commissioner.

Requires applicants for industrial hemp cultivation licenses to pay per-acre fees plus up to $500 application fees, and hemp extract processing licenses with fees based on production volume plus up to $500 application fees.

Authorizes the Department of Agriculture and Markets to conduct inspections, quarantine, seize non-compliant products, and enforce compliance through corrective action plans and license suspension or revocation.

Establishes penalties of up to $1,000 for first violations, $5,000 for second violations, and $10,000 for third and subsequent violations, and requires hemp extract products to comply with federal manufacturing standards and state labeling requirements.