Cannabis Real Estate Law | CBXRE® Cannabis Real Estate Law CBXRE®

Governor Andrew Cuomo announced Wednesday that he will introduce a proposal that would finally legalize marijuana in New York state. “I’m announcing a proposal to legalize cannabis and create an equitable adult-use cannabis program in NYS,” Cuomo tweeted Wednesday. “This program will generate much-needed revenue, while allowing us to support those that have been most harmed by decades of failed cannabis prohibition.” Under the proposal, New York would establish a new Office of Cannabis Management, which would oversee both the recreational program and the state’s preexisting medical marijuana program. If approved later this year, the proposal would allow adults over the age of 21 to buy marijuana at state-approved dispensaries, with the state reaping an estimated $300 million in tax revenue from legalization. While New York decriminalized personal-use possession of marijuana in 2019, the Empire State has lagged behind other states — including, most recently, Montana, Arizona, North Dakota and New Jersey — in legalizing marijuana for recreational use. Cuomo has twice attempted to legalize marijuana in the largely Democratic state, but both tries stalled when they reached the legislature. However, state Democrats obtained a super majority following the November elections, giving them the ability to override any veto. The timing of Cuomo’s proposal — like news that Cuomo will also allow sports betting in New York — seems to be financially motivated, as the state rebounds from a ballooning deficit and the economic impact of Covid-19. Governor Cuomo’s press office added, “The proposal reflects national standards and emerging best practices to promote responsible use, limiting the sale of cannabis products to adults 21 and over and establishing stringent quality and safety controls including strict regulation of the packaging, labeling, advertising, and testing of all cannabis products. Cannabis regulation also offers the opportunity to invest in research and direct resources to communities that have been most impacted by cannabis prohibition.”

Gov. Cuomo Announces Proposal to Legalize Marijuana in New York

Rank Higher on Google | Help Your SEO

World's No 1 CBD Business Directory

Compare