It’s a beautiful morning in New York for many herb enthusiasts now that the state has finally legalized recreational marijuana. State legislations and Governor Andrew Cuomo made it official on Wednesday, allowing some parts of the legislation to take effect immediately.
The New York Times breaks down what’s expected out of the new law and what it means to communities disproportionately hit by marijuana-related charges. For starters, forty percent of the tax revenue from the sales will be earmarked for them. And for the people with marijuana-related offenses that are now legal, their records are automatically expunged.
In an even bigger win for the culture, the law allows people with past convictions and those involved in the market illegally to join the industry legally. We hope you all know how to fill out Form 1040 for taxes.
While some portions of the legislation will kick in later in the year, other parts went into effect as soon as Cuomo signed his signature on the dotted line. Firstly, individuals are now permitted to carry up to three ounces of cannabis for recreational purposes or 24 grams of concentrated forms, including oils.
Secondly, marijuana smokers should just follow wherever tobacco smokers are because that’s where their safe zones are mapped out for public consumption throughout the state. Places to avoid smoking include schools, workplaces, inside cars. It’s illegal to smoke at parks, beaches, boardwalks, pedestrian plazas, playgrounds, and anywhere tobacco is banned. It’s legal to walk and smoke, though.
Officials are working on a regulatory framework to help govern initiatives within a new market, impacting home deliveries, and “consumption sites.” That sounds like hookah bars may turn green if state regulation allows it. It will also allow for people to grow as many as six plants at home for personal use. Don’t go and get a grow house started.
New York will eventually see dispensaries open, but not for at least another year from now.
The new marijuana market is expected to generate $350 million in yearly tax revenue and billions of dollars in annual sales and can generate new jobs for anyone into distribution, sales, or the drug’s cultivation.
For medicinal users, the law loosens up for them as well. Patients are now allowed to smoke cannabis flower and can receive up to a 60-day supply, up from the previous 30-day restriction.
Regulations are coming for those interested in the entrepreneurial side of the market, such as the allocation of licenses on the supply-side, distribution restrictions, and rules for dispensaries or “consumption sites.”
There’s also talk of a tiered system for wholesalers and retailers’ licenses, similar to how the alcohol market is framed. However, half of the business licenses are expected to be given to “social equity applicants.” If this sounds like something up your alley, read more here.
How many new apartment buildings in NYC will have balconies now?