New York lawmakers have reportedly reached an agreement to legalize recreational marijuana in the state.
According to Bloomberg, the state is ready to legalize recreational marijuana use for people 21 and older.
The deal reportedly included a 13 percent tax on sales and licensing to dispensaries.
Nine percent of the 13 percent marijuana tax would go to the state, Bloomberg notes, while the remaining 4 percent would go to local governments. The New York governor’s office estimates that a legal cannabis program in the state could generate about $ 350 million annually, it added.
“I understand that the triple agreement has been reached and that the drafting of a bill is in the process of finalizing a bill that we have all said we support,” said Senate Finance Committee Chairman Liz Krueger (D).
Krueger added that she expects lawmakers to vote on the measure as early as next week.
New York Gov. Andrew Cuomo
Andrew CuomoSchumer Recommends Three Black Lawyers To Lead US Law Firms In New York State Assembly Speaker Tests Positive For COVID-19 Governor Races To Test COVID-19 Response, Trump Influence MORE (D) said early Wednesday that a deal on marijuana legalization was about to be struck, notes Bloomberg, adding that this is one of his budgetary priorities.
In February, Virginia lawmakers passed a bill to legalize recreational marijuana, although the legalization wouldn’t go into effect until 2024. Virginia government Ralph Northam (D) has yet to sign the bill, and state lawmakers hope he will return it with amendments. that would speed up the implementation of the bill.