Lawmakers Reach Deal to Legalize Recreational Marijuana in New York

Lawmakers Reach Deal to Legalize
Recreational Marijuana in New York.
An unnamed legislative
source revealed the news
to CNN on Wednesday. .
The bill will reportedly be passed next week
after lawmakers finish finalizing its language. .
The legislation in question, “The Cannabis
Law,” will allow New Yorkers over the age
of 21 to legally grow their own plants. .
It will also see a 13 percent tax on retail
marijuana sales for local and state tax revenue. .
In addition, the bill will create an Office of
Cannabis Management (OCM) that will be
controlled by a Cannabis Control Board. .
According to the internal legislative
memo obtained by CNN, marijuana
licensing will be issued by board officials
in different supply chain steps: .
farming, processing,
distribution, dispensaries and
retail “consumption” sites. .
The OCM will also oversee the regulation
of licenses, including a goal to grant 50 percent
of licenses to “social equity applicants.” .
“Social equity applicants” include
communities impacted by cannabis prohibition and
women- and minority-owned businesses.