Aye Oh, New York legalizes recreational cannabis and becomes the kingpin of weed on the east coast
There is an increased demand for marijuana worldwide; Why? In addition to its recreational effects, it is also laden with medicinal goodness, which explains why numerous states in America are quick to legalize recreational marijuana.
In New York, Governor Andrew Cuomo has taken the lead by signing a legislative bill to legalize recreational marijuana. The New York Senate voted between 40 and 23 that day to pass the bill, and later the State Assembly voted 100 to 49 to pass the bill.
This makes New York the 15th state in the District of Columbia to legalize recreational cannabis. Governor Andrew Cuomo described the day as a “historic day” creating a way to secure marijuana as a legal entity.
The importance of the bill
Governor Cuomo also reiterated that the law’s passage aims to reduce the impact of the cannabis ban on color communities. After many years of hard work to ensure that this law is passed, the legislation allows the new cannabis industry to boost the economy.
The legal industry will also ensure significant levels of safety for the public when using marijuana. The bill will also help give people with health problems access to medical marijuana.
The minorities and colored communities are challenging
While there is a sense of general acceptance for marijuana that has encouraged states like New York to legalize it, there is more to the story. In New York, black and Latin American citizens account for 94% of marijuana-related arrests in 2020.
These numbers are pretty worrying considering that more whites use marijuana than Latinos and blacks. A report from the New York Department of Health said that 24% of white citizens use marijuana, which is higher than the 14% and 12% of black and Latin American residents, respectively.
This discourse about minority communities is critical because it shows the importance of the New York legislative move in protecting minority communities from being attacked by the police if they get “illegally” marijuana.
The new law allows all adults 21 and older to buy cannabis from authorized vendors and only owns up to 3 ounces of cannabis and 24 grams of cannabis concentrate.
The lives of young people in New York are no longer ruined by a lack of cannabis regulation or marijuana as it is labeled “illegal”. This legalization process has also ensured justice for marijuana by ensuring that communities are no longer incarcerated for marijuana possession en masse.
Marijuana justice, the protection of minority communities, and the legal status of marijuana are some of the benefits of New York City with the Senate bill.
There are also some immense financial implications from this development that we will discuss shortly. Below, we’ll highlight how marijuana can add to the state’s economy.
The financial impact of marijuana legalization in New York
The governor’s office mentioned that adult cannabis development would create 30,000-60,000 jobs in New York. The new legal marijuana industry will also bring New York in taxes of more than $ 300 million annually.
Additionally, the New York State Cannabis / Marijuana Regulation and Taxation Act aims to add a 13% tax to retail sales for state and local tax revenue. Now these taxes will be set up in a New York State cannabis revenue fund and the remaining costs will be split into different funds:
The first is the New York education system (that’s 40%)
The second is the Community Grants Reinvestment Fund (this is also 40%.
The third sector is the Drug Treatment and Public Education Fund (this is 20%).
These marijuana legalization and taxation figures show only a fraction of the sizeable revenue that will be pouring into the New York coffers. There is also an additional forecast of $ 2 billion in annual sales if marijuana is allowed to flourish in the state.
New York also had to ensure marijuana legalization, as enforcing it and ensuring that people use marijuana well when it has not been legalized costs a lot of money. Such bans can cost up to $ 7.7 billion annually, but now that marijuana has been legalized, such bans are no longer necessary.
New York cities and counties may refuse adult permission to use cannabis dispensaries or other on-site consumption licenses. But these cities or counties CANNOT oppose general adult cannabis use. This is a public New York legalization process that is accepted by the Senate and the Governor.
Legalizing cannabis in New York also helps create job creation, thereby strengthening the state’s ability to empower its citizens in the most effective and productive way.
Marijuana won’t suddenly go away; It has become an important part of our culture as people seek health and recreational benefits.
New York is also encouraging potential investors with its friendly attitude towards cannabis. Without a doubt, there will be an avalanche of cannabis startups in New York trying to maximize the values and legal standing of marijuana in New York.
New York is one of the American states that has taken proactive measures to legalize marijuana, and it is a commendable move that secures cannabis in the state.
For too many years the harmful press cannabis that has been preserved as a cause of substance abuse has tarnished its reputation, and now New York State has taken a giant step to further correct that negative impression.
States that have not legalized cannabis need to do so as they see the positive effects of legalization on other regions that have legalized marijuana.
Although legalized sales will begin in a year or two, this legalization process is the first and best step in the right direction. If all other states take the same legal step as New York, America will accept marijuana as the super plant it is whole.
Are you staying in new york What do you think of the current legal status of cannabis in the state? Share your thoughts in the comment section below.
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