The move paves the way for a potential $4.2 billion industry, with millions of dollars in sales tax revenue reinvested in minority communities each year.
State lawmakers finalized a deal on Thursday to legalize recreational marijuana in New York, paving the way for a potential $4.2 billion industry that could create tens of thousands of jobs and become one of the largest markets in the country.
Following several failed attempts, lawmakers in Albany struck an agreement with Gov. Andrew M. Cuomo to legalize cannabis for adults 21 and older, a move that officials hope will help end years of racially disproportionate policing that saw Black and Hispanic people arrested on low-level marijuana charges far more frequently than white people.
The deal would allow delivery of the drug and permit club-like lounges or “consumption sites” where marijuana, but not alcohol, could be consumed, according to details obtained by The New York Times. It would also allow a person to cultivate up to six marijuana plants at home, indoors or outdoors, for personal use.
If approved, the first sales of legal marijuana are likely more than a year away: Officials must first face the daunting task of writing the complex rules that will control a highly regulated market, from the regulation of wholesalers and dispensaries, to the allocation of cultivating and retail licenses, to the creation of new taxes and a five-member control board that would oversee the industry.
The deal was crafted with an intense focus on making amends in communities impacted by the decades-long war on drugs. Millions of dollars in tax revenue from cannabis sales would be reinvested in minority communities each year, and a sizable portion of business licenses would be reserved for minority business owners.