Good news! This weekend, Gov. Cuomo and legislative leaders reached consensus on the details of legalizing cannabis in the Empire State.
You might recall earlier in the legislative session Gov. Cuomo released his plan to legalize cannabis in New York – the Cannabis Regulation and Taxation Act. Legislative leaders also reintroduced the Marijuana Regulation and Taxation Act, which has been introduced several times since 2013. Gov. Cuomo later revised his bill to address concerns around equity and penalties for possession and usage.
This past weekend, the two sides reached a deal. You can check out a summary of the proposed legislation here.
Under the proposal:
- adults over the age of 21 would be allowed to possess up to three ounces of cannabis and 24 grams of concentrate, plus a maximum of 12 plants per household once regulations are adopted;
- a hybrid tax would be imposed, with a potency-based tax levied on distributors (0.5 cents/mg of THC for flower, 0.8 cents/mg for concentrates, and 3 cents/mg for edibles) and a point of sale retail tax of 9% state tax and a 4% local tax (with 75% of the local earnings going to municipalities and 25% to counties); and
- after regulatory and administrative costs, 40% of cannabis revenue would go to community grants reinvestment, 20% to schools, and 40% to drug treatment facilities and public education, including for a youth-focused public health education and prevention campaign, a statewide public health campaign on the health effects of cannabis, and for substance use disorder treatment.
The bill is expected to receive a floor vote later this week! Please write your legislators now and spread the word. We’ll be sure to keep you updated as the bill progresses through the legislature.