New York Governor Andrew Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced an agreement on legislation to legalize adult-use cannabis in the state.
The bill would establish the Office of Cannabis Management to implement a comprehensive regulatory framework to cover medical, adult-use and cannabinoid hemp, Coumo’s office said in a statement. The bill would also expand New York State’s existing medical marijuana and cannabinoid hemp programs.
Tax collection is expected to reach US$350 million a year and potentially create 30,000 to 60,000 jobs. The legislation provides licensing for marijuana producers, distributors, retailers, and other actors in the cannabis market.
“For generations, too many New Yorkers have been unfairly penalized for the use and sale of adult-use cannabis, arbitrarily arrested and jailed with harsh mandatory minimum sentences,” Cuomo said in the statement. “After years of tireless advocacy and extraordinarily hard work, that time is coming to an end in New York State.”