New York Governor Andrew Cuomo signed a bill on Wednesday that would legalize marijuana use for adults 21 and over.
The bill also expunges previous marijuana convictions that are no longer illegal due to the new law.
“This is a historic day in New York — one that rights the wrongs of the past by putting an end to harsh prison sentences, embraces an industry that will grow the Empire State’s economy, and prioritizes marginalized communities so those that have suffered the most will be the first to reap the benefits,” said Cuomo in a news release.
“This was one of my top priorities in this year’s State of the State agenda and I’m proud these comprehensive reforms address and balance the social equity, safety and economic impacts of legal adult-use cannabis,” said Cuomo.
The bill allows adults 21 and over to purchase marijuana from licensed sellers, possess up to 3 ounces of marijuana and 24 grams of marijuana concentrate. 18 months after the sales begin, individuals would be allowed to grow six mature plants and six immature plants per household.
The new bill could create between 30,000 and 60,000 new jobs and could generate $350 million annually in new tax revenue.
The bill would create a 13% tax on sales that would go to state and local governments.
“Cities, towns, and villages may opt-out of allowing adult-use cannabis retail dispensaries or on-site consumption licenses by passing a local law by December 31, 2021 or nine months after the effective date of the legislation. They cannot opt-out of adult-use legalization,” said the release.