Photographer: Galit Rodan / Bloomberg
Photographer: Galit Rodan / Bloomberg
New York is poised to legalize recreational marijuana. The state would impose special pot taxes and prepare to license dispensaries based on an agreement reached by Government Andrew Cuomo and Legislative Leaders.
“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 chair Liz Krueger on Wednesday. Bloomberg Government.
Cannabis use would become legal for adults 21 and older.
The deal that legislators struck with Cuomo (D) demands a sales tax of 13%, of which 9% to the state and 4% to the local population, Krueger said. Distributors would also levy an excise tax of as much as 3 cents per milligram of THC, the active ingredient in cannabis, with a sliding scale based on the type of product and its strength.
The governor’s office estimates that a legal cannabis program could generate about $ 350 million per year once fully implemented.
Cuomo said earlier on Wednesday that they were close to an agreement to legalize marijuana, and that this is one of his budgetary priorities. Krueger said she expects lawmakers to vote outside the budget on the measure next week.