Cuomo calls for legalizing, taxing marijuana in budget plan
Marijuana Industry NewsNew York February 12, 2020 MJ Shareholders 0
New York Gov. Andrew Cuomo (D), in a budget outline released Tuesday, proposed legalizing and taxing marijuana.
The move shows he plans to make good on a promise he made just two weeks earlier at the annual State of the State address, where he pledged to legalize marijuana in 2020.
In the plan released Tuesday, Cuomo said he wants to create a new Office of Cannabis Management to oversee “medical, adult-use and hemp programs.” Under Cuomo’s proposal, adults over 21 will be able to legally purchase marijuana at retailers licensed by that office, and the state will establish a Global Cannabis and Hemp Center for Science, Research and Education within the State University of New York system.
One of the biggest criticisms of marijuana legalization in other states is the racial disparity between the entrepreneurs who profit off the new business venture and the communities who have been historically affected by marijuana laws.
“The proposal will also correct past harms to individuals and communities that have disproportionately been impacted by prohibition,” the plan reads.
In January 2018, Cuomo directed the Department of Health to conduct an impact study to review the potential impact of regulated marijuana in New York. According to the executive budget, the report issued in July 2018 concluded that the positive impacts of a regulated cannabis program in New York state outweighed the potential negative aspects. [Read More @ The Hill]
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.