New York is about to legalize recreational marijuana as early as next week, after state lawmakers have finalized the drafting of a bill that would tax and regulate marijuana for people over 21.
The proposed legislation, which was presented on Saturday, days after lawmakers reached an agreement with Governor Andrew Cuomo, would include elements of social justice to “repair the highly discriminatory impact that the application of the ban has had on communities of color in the state of New York, “State Sen. Liz Krueger, a Democrat, said in a statement.
“I am very proud that we finally have a … bill to legalize cannabis for adults in a way that prioritizes racial justice, while balancing security with economic growth, encouraging new small businesses and significantly reducing the illegal market” said Krueger.
“My goal in bringing this legislation has always been to end racially disparate enforcement of marijuana prohibition, which has done so much damage to communities of color across our state, and to use the unexpected economic gains from legalization to help heal and repair these same communities. “
Krueger added that lawmakers could accept the bill next week.
The provisions include the allocation of 40 percent of revenue to communities disproportionately impacted by the so-called war on drugs, automatic elimination of records for people with previous convictions and the elimination of penalties for possession of less than three ounces of cannabis.
The project would also establish “equity participation programs” that would provide loans and grants to small farmers and people who were affected by the drug war interested in entering the sector.
“Cannabis legalization in New York will be centered on capital, investment in communities, economic opportunities for historically marginalized people, research, education and public safety,” said New York Assembly majority leader Crystal Peoples-Stokes, a Democrat , in a statement. “I am honored to sponsor this legislation and excited to see the positive impact it will have for so many New Yorkers.”
According to the proposed legislation, a Cannabis Management Office would be created. comprising a five-member council tasked with regulating and supervising the nascent industry, including establishing licensing protocols for producers, dispensaries and places of consumption.
All cannabis for adult use would be tested in the laboratory before being sold to consumers. The office would also set a 9% sales tax, a 4% local tax and an additional tax based on THC content.
New York residents would be limited to growing three mature and three immature plants per adult with a maximum of six mature plants and six immature per family. Localities would be allowed to cancel retail sales.
The New York recreational cannabis market is estimated at $ 4.6 billion in 2023 and $ 5.8 billion in 2027, according to a recent analysis by consulting firm MPG Consulting.
Earlier this year, Cuomo called for the creation of a new Office of Cannabis Management that would oversee recreational use as well as existing medical use, NBC New York reported. It was his third attempt to bring New York to legalization in three years.
“For a long time, the lives of New Yorkers in low-income, colored communities across the state have been ruined by our state’s draconian application of harmful prohibitionist policies, said Troy Smit of the Empire State NORML in a statement.” I hope that the New York State Legislature will approve this bill. “