ALBANY, N.Y. — New York has become the 15th state to legalize possession of marijuana for recreational use, allowing anyone over the age of 21 to possess up to three ounces of the drug.
New York Gov. Andrew Cuomo signed the Marijuana Taxation and Regulation Act into law Wednesday afternoon, a day after the state Legislature approved it by a wide margin.
The legislation passed by a margin of 43 to 20 in the Senate and 100 to 49 in the Assembly, with Democrats controlling both chambers.
Effective immediately, it is no longer a crime or violation to possess up to three ounces of marijuana in New York.
But for the next year at least, New York will be in something of a gray area: Dispensary and on-site consumption sales of marijuana cannot begin until April 1, 2022, at the absolute earliest, meaning there will be no legal way to sell the drug to those in New York until then.
The measure creates a regulatory system to oversee the cannabis industry, spanning from massive grow operations to corner cafes allowing outdoor marijuana smoking and vaping.
The state anticipates legal marijuana sales for those age 21 and older will begin a year from now, as it embarks on the complex task of issuing cannabis business licenses while preparing to enforce a lengthy list of new marijuana statutes.
Once fully operational, the cannabis industry is expected to generate more than $350 million in tax revenues per year for the state of New York, with 40% going to a social equity fund, 40% for schools and 20% for drug treatment and education.
"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," Cuomo said in a statement.
New York Sen. Liz Krueger, D-Manhattan, who championed the legislation, touted it as key to removing marijuana from the illicit marketplace run by dangerous drug cartels to one tightly regulated by state authorities.