A legalized-cannabis bill is poised to be passed and signed into law in New York after a three-way agreement between the Assembly, Senate, and governor's office.
Early reports from the New York Capitol in Albany indicated the major hang-up before the agreement was over how impaired driving would be enforced, but now the Democratic supermajority Legislature is ready to vote on it once it's brought to the floor in each chamber, according to the Democrat and Chronicle.
Bloomberg News was first to report on the deal, with lawmakers settling on language in the bill on Wednesday afternoon. The bill is expected to largely mirror laws from neighboring states, where the legal age to purchase cannabis is 21.
Still no bill, but the agreement that I tweeted out last night has held, I'm told.
— Dan Clark (@DanClarkReports) March 24, 2021
I'm a sucker for reading legislation, and this one should be fun. https://t.co/HdkiNjp50P
Legalized cannabis arriving in the Empire State could be a major market-moving event, with New York City's population of more than 8 million and promise of tourism returning to pre-pandemic levels offering a major boost to the industry.
At his COVID-19 press briefing on Wednesday, Gov. Andrew Cuomo said legalizing marijuana would be one of his top priorities ahead of the April 1 budget deadline.
Other attempts at legalizing cannabis in New York have fallen short in previous legislative sessions, despite its promise of increased tax revenue. Neighboring states such as Vermont, Massachusetts, and New Jersey have enacted their own programs.
More details: Cities, towns and villages would have until the end of the year (or nine months after the bill taking effect, whichever is later) to opt out of having marijuana dispensaries within their borders. Would have to pass a local law.
— Jon Campbell (@JonCampbellGAN) March 24, 2021
Details from early reports were sparse, but the bill would let New Yorkers grow their own plants and allow municipalities to opt out of having any dispensaries move in, according to Spectrum News and the Democrat and Chronicle.
In response to concerns from lawmakers and advocates worried about most of the profits from legalization going to big business and investors, the bill also includes provisions for a "social equity fund" that would send some of the tax revenue to after-school and job-placement programs, Spectrum News reported.
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