New York Legalizes Cannabis for Adult Use
Marijuana Stocks, Finance, & InvestingUncategorized April 1, 2021 MJ Shareholders
New York has legalized cannabis becoming just the fourth state to approve the reforms via the legislative process. The measure passed both chambers along party lines and was signed into law Wednesday morning by Gov. Andrew Cuomo (D).
Some aspects of the reforms took effect immediately, including adult possession, expungement of crimes now legal under the new regime, and the creation of the Office of Cannabis Management. The law allows adults to grow their own plants – three mature and three immature – but that provision doesn’t take effect until sales begin, which are anticipated in about 18 months.
Rep. Richard Gottfried (D), a longtime champion of the reforms in the state, called the law’s passage “a milestone on the road toward a more rational drug policy in New York.”
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