After Gov. Andrew Cuomo, a Democratic senator, signed Wednesday's state legalization bill.
New York legalized cannabis, becoming the fourth state via the legislative process. Both chambers passed the measure along party lines, and it was signed into law Wednesday morning. Andrew Cuomo (D).
Some of the reforms were implemented immediately. These included adult possession, exoneration of criminal offenses now legal under the new system, and the creation of an Office of Cannabis Management. In addition, adults can grow three mature plants and three immature plants under the law. However, this provision is not effective until sales start, which is expected to occur in approximately 18 months.
Rep. Richard Gottfried (D), a long-standing champion of reforms in the state, described the law's passage as "a landmark on the road to a more rational drug strategy in New York."
The Marijuana Regulation and Taxation Act is a huge step forward. It will provide economic opportunities for communities, community reinvestment programs, and social equity programs. New York will be able to generate between 30,000 and 60,000 jobs due to the passage of the MRTA." Gottfried stated in a statement.
The bill's final version allocates 40% tax revenue for reinvestment into communities most affected by cannabis laws enforcement, 40% for public education, and 20% for drug treatment prevention, treatment, and education. In addition, the bill includes a 9% local and state tax on recreational cannabis sales taxes based on THC content (0.5 cents per gram for flowers, 0.8 cents for concentrates, and 0.3 cents for edibles).
The bill also permits social usage establishments.
Half of all licenses will be reserved for social equality applicants. This includes minorities, women, and disabled veterans. The measure also contains social equity programs, such as loans, grants, and incubator programs for individuals from unduly affected communities and small farmers who wish to enter the space.
Empire State NORML Deputy Director Troy Smit pointed out that New York was once the "cannabis arrest capital."
Smit stated that while "this might not be the best piece of legislation," "today, cannabis consumers can hold on to their heads and smell the flowers."
Article credit to https://cbdhealthandwellness.net
Original Article: https://www.ganjapreneur.com/new-york-legalizes-cannabis-for-adult-use/
