{"id":52900,"date":"2021-01-19T19:02:41","date_gmt":"2021-01-19T19:02:41","guid":{"rendered":"https:\/\/merryjane.com\/nys-proposed-adult-use-weed-bill-could-create-60k-jobs-and-bring-in-dollar300-million\/"},"modified":"2021-01-19T19:02:41","modified_gmt":"2021-01-19T19:02:41","slug":"nys-proposed-adult-use-weed-bill-could-create-60k-jobs-and-bring-in-dollar300-million","status":"publish","type":"post","link":"https:\/\/merryjane.com\/news\/nys-proposed-adult-use-weed-bill-could-create-60k-jobs-and-bring-in-dollar300-million\/","title":{"rendered":"NY&#8217;s Proposed Adult-Use Weed Bill Could Create 60k Jobs and Bring in $300 Million"},"content":{"rendered":"<p><em>Image <\/em><a href=\"https:\/\/thegreenfund.com\/is-weed-legal-in-new-york-marijuana-legalization\" rel=\"nofollow noopener\" target=\"_blank\"><em>via<\/em><\/a><\/p>\n<p>For the <a href=\"https:\/\/merryjane.com\/news\/governor-cuomo-promises-again-that-new-york-will-legalize-weed-in-2020\" target=\"_blank\" rel=\"noopener\"><u>third year in a row<\/u><\/a>, New York Governor Andrew Cuomo has included a plan to legalize cannabis sales and use in the Empire State&#8217;s annual budget proposal. The previous two years&#8217; efforts were shot down due to the <a href=\"https:\/\/merryjane.com\/news\/despite-coronavirus-new-yorks-governor-is-still-pushing-for-weed-legalization\" target=\"_blank\" rel=\"noopener\"><u>pandemic<\/u><\/a> and by <a href=\"https:\/\/merryjane.com\/news\/new-yorks-governor-wants-to-legalize-weed-but-doesnt-want-you-to-smoke-it\" target=\"_blank\" rel=\"noopener\"><u>conservative lawmakers<\/u><\/a>, but the governor is hopeful that this third time will be the charm.&nbsp;<\/p>\n<p>At his State of the State address last week, Cuomo emphasized the importance of legalization as a means to end the racially unequal enforcement of cannabis prohibition laws as well as providing a much-needed economic boost. The new budget proposal also includes provisions to help boost the state&#8217;s existing hemp industry.<\/p>\n<p>\u201cWe will legalize adult-use recreational cannabis, joining 15 other states who\u2019ve already done so,\u201d the governor said, <a href=\"https:\/\/www.weny.com\/story\/43191149\/new-york-moves-to-legalize-cannabis\" rel=\"nofollow noopener\" target=\"_blank\"><u>according to <\/u><u><em>WENY News<\/em><\/u><\/a>. \u201cThis will raise revenue and will end the over-criminalization of this product that has left so many communities of color over-policed and over-incarcerated.\u201d<\/p>\n<p><iframe loading=\"lazy\" allowfullscreen=\"true\" frameborder=\"0\" width=\"640\" height=\"430\" scrolling=\"no\" src=\"https:\/\/merryjane.com\/embed\/gallery\/pipes-and-bongs-so-wild-they-pass-for-eclectic-high-flying-art\/1\" ><\/iframe><\/p>\n<p>Cuomo was only able to provide a brief outline of his cannabis legalization plans last week, but the full details of the proposal are being released with the final budget proposal. The proposed budget includes <a href=\"https:\/\/spectrumlocalnews.com\/nys\/buffalo\/ny-state-of-politics\/2021\/01\/19\/cuomo-proposes-best-case--worst-case-budgets\" rel=\"nofollow noopener\" target=\"_blank\"><u>$350 million<\/u><\/a> to establish an Office of Cannabis Management to oversee retail sales regulations and business licensing. The governor has also set aside $100 million for a social equity fund to reinvest in communities most heavily impacted by the War on Drugs.<\/p>\n<p>According to the governor&#8217;s office, the new program would strive to create \u201crobust social and economic equity benefits to ensure New York\u2019s law will create an egalitarian adult-use market structure that does not just facilitate market entry but ensures sustained market share for entrepreneurs in communities that have been most harmed by cannabis prohibition,\u201d <a href=\"https:\/\/www.marijuanamoment.net\/new-york-governor-releases-more-details-on-marijuana-legalization-proposal\/\" rel=\"nofollow noopener\" target=\"_blank\"><u><em>Marijuana Moment<\/em><\/u><u> reports<\/u><\/a>.<\/p>\n<p>More specifically, the program will \u201ccorrect past harms by investing in areas that have disproportionately been impacted by the war on drugs, understanding that expunging past cannabis convictions helps to correct the injustice faced on the day that someone was arrested, but fails to correct the lasting harms that arrest has had on citizens, families, and communities.\u201d<\/p>\n<p>The new budget also relies on cannabis sales tax revenue to help fill the state&#8217;s $4 billion budget gap. According to the governor&#8217;s outline of the program, a legal pot industry would boost the state&#8217;s economy by an estimated $3.5 billion and create 60,000 jobs. By the time the retail market is fully up and running, the state expects to see as much as $300 million a year in pot tax revenue.<\/p>\n<p>Cannabis advocates have warned about the dangers of setting weed taxes too high, though. \u201cWe definitely want to make sure that taxes are not so prohibitive that it pushes the market back underground,\u201d said National Cannabis Industry Association CEO Aaron Smith <a href=\"https:\/\/www.foxbusiness.com\/economy\/ny-marijuana-tax-cant-be-too-high-or-black-market-will-thrive-cannabis-industry-official\" rel=\"nofollow noopener\" target=\"_blank\"><u>to <\/u><u><em>FOX Business<\/em><\/u><\/a>. \u201cI hope that we can come to a place where it\u2019s taxed in a manner that it\u2019s somewhat similar to alcohol.\u201d<\/p>\n<p><iframe loading=\"lazy\" allowfullscreen=\"true\" frameborder=\"0\" width=\"640\" height=\"430\" scrolling=\"no\" src=\"https:\/\/merryjane.com\/embed\/gallery\/memes-for-the-world-every-boi-and-every-girl\/1\" ><\/iframe><\/p>\n<p>This new budget proposal will mark Cuomo&#8217;s third annual attempt to legalize pot. But although the last two attempts <a href=\"https:\/\/merryjane.com\/news\/new-york-is-working-to-draft-a-marijuana-legalization-bill\" target=\"_blank\" rel=\"noopener\"><u>failed<\/u><\/a>, advocates believe that 2021 may finally be the year that New York goes green. New Jersey will begin selling adult-use cannabis <a href=\"https:\/\/merryjane.com\/news\/new-jersey-is-preparing-to-launch-legal-weed-sales-and-regulated-marketplace-asap\" target=\"_blank\" rel=\"noopener\"><u>this year<\/u><\/a>, and lawmakers want to ensure that New Yorkers will spend their hard-earned cash on local weed businesses.<\/p>\n<p>The state legislature was instrumental in shutting down the previous two years&#8217; legalization proposals, but again, this year is looking different. Last December, the state Assembly&#8217;s top Republican lawmaker said he was <a href=\"https:\/\/www.marijuanamoment.net\/top-new-york-republican-lawmaker-says-marijuana-legalization-will-happen-in-2021\/\" rel=\"nofollow noopener\" target=\"_blank\"><u>confident<\/u><\/a> that New York would legalize pot this year, and Democrats now have a <a href=\"https:\/\/www.marijuanamoment.net\/new-york-governor-releases-more-details-on-marijuana-legalization-proposal\/\" rel=\"nofollow noopener\" target=\"_blank\"><u>supermajority<\/u><\/a> in the state Senate, giving them the authority to override any potential vetoes from the governor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The governor\u2019s last two legalization attempts were dead on arrival, but advocates are hopeful the Empire State will finally go green this year.<\/p>\n","protected":false},"author":2,"featured_media":52901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3036],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - 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