ALBANY – Governor Cuomo, Wednesday, signed legislation legalizing adult-use marijuana. With it comes the potential to collect taxes of as much as $350 million annually and create 30,000 to 60,000 new jobs across the state.
The bill establishes an Office of Cannabis Management charged with enforcing a comprehensive regulatory framework governing medial, adult-use cannabinoid helm.
It will be governed by a five-member board and will operate as an independent office operating as part of the State Liquor Authority.
“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 priorities marginalized communities so those that have suffered the most will be the first to reap the benefits,” said the governor, who has been pushing legalization for years.
