State officials said Saturday they reached a final agreement on the legislative language necessary to legalize marijuana for adults in New York.
Governor Andrew Cuomo and state Senate and Assembly leaders announced the agreement on the amended Marijuana Tax and Regulation Act Saturday night.
The bill, which is expected to be voted on next week, will split revenues from the state’s marijuana industry between schools and public education, communities “disproportionately affected by the war on drugs.” and drug treatment, prevention and education programs, State Sen. Said Liz Krueger (D-Manhattan).
Sales of marijuana to New Yorkers 21 and older will come with a 9 percent sales tax, plus an additional 4 percent tax that will be divided between the county and city / town / village governments; Those convicted of selling will have their records automatically expunged and the state’s medical marijuana program expanded.
Cuomo said the legislation could generate $ 350 million in annual taxes and potentially create between 30,000 and 60,000 jobs.
“When this bill becomes law, New York will be ready to implement a nation-leading model for what legalizing marijuana can look like,” Krueger said.
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