Cannabis use and possession are officially legal in New York after Governor Andrew Cuomo (D) signed the state legalization law on Wednesday.
New York has legalized cannabis, making it the fourth state to approve reforms under the legislative process. The measure was passed politically in both chambers and signed by Governor Andrew Cuomo (D) on Wednesday morning.
Some aspects of the reforms took effect immediately, including adult ownership. Extinction of crimes now legal under the new regime and the creation of the Office of Cannabis Management. The law allows adults to grow their own plants – three mature and three immature – but that provision won’t take effect until sales begin, which is expected in about 18 months.
MP Richard Gottfried (D), a long-time advocate of reforms in the state, described the passage of the law as a “milestone on the way to a more rational drug policy in New York.”
“Now the marijuana regulation and tax law is going to take a big step forward. It will create economic opportunity, including community reinvestment and social justice programs. As a result of the passing of the MRTA, New York is expected to generate approximately $ 350 million in annual new tax revenue and create between 30,000 and 60,000 jobs. “- Gottfried in a statement
The final bill will allocate 40% of tax revenue for reinvestment in communities hardest hit by cannabis law enforcement, 40% for public education, and 20% for drug treatment, prevention and education. The bill provides a 9% state and 4% local tax on recreational cannabis sales, along with taxes based on THC levels – 0.5 cents per milligram for flowers, 0.8 cents per milligram for concentrates and 0.3 cents per milligram for groceries.
The bill also provides social use Facilities.
Half of the licenses are reserved for social justice Applicants including minorities, women, disabled veterans, and those hardest hit by the disproportionate enforcement of cannabis laws. The action also includes social justice programs, including loans, grants, and incubators for smallholders and individuals from overly affected communities wishing to enter the area.
Troy Smit, deputy director of the Empire State NORML, stated that New York was once the “capital of the world for the arrest of cannabis”.
“This may not be the perfect law,” said Smit in a statement, “but today cannabis users can hold their heads up and smell the flowers.”
Original article: https://www.ganjapreneur.com/new-york-legalizes-cannabis-for-adult-use/