The state of New York has become the 15th state to all for adult use cannabis.
Gov. Andrew Cuomo signed the legislation on Wednesday, roughly 12 hours after the Legislature approved it.
Per ABC News
“This is a historic day in New York — one that rights the wrongs of the past by putting an end to harsh prison sentences, embraces an industry that will grow the Empire State’s economy, and prioritizes marginalized communities so those that have suffered the most will be the first to reap the benefits,” Cuomo said in a statement.
The legislation could create up to 60,000 jobs and generate $350 million in annual tax revenue for the state, according to the statement.
A total sales tax rate of 14% includes 9% allocated for the state, 3% for the municipality where the sale is made and 1% for the county. From that 9%, 40% has been earmarked for communities disproportionately affected by prior drug laws, 40% for schools and 20% for drug treatment and education.
Under the final legislation, New Yorkers will be allowed to possess 3 ounces of marijuana and grow up to three mature pot plants at home, with a limit of six per household.
