The sale of recreational marijuana is set to become legal in the state of New York after lawmakers reached an agreement on the drug.
As reported by the Associated Press, New York will join at least 14 other states that have already passed laws allowing residents to legally purchase marijuana for recreational and not just medical use.
Where previous efforts to pass the bill in New York have failed, Democrats now hold a veto-proof majority when it comes to state legislature, and Democratic Governor Andrew Cuomo's office has estimated that revenue from the sale of marijuana could bring the state $350 million every year.
And although the law would take effect immediately once passed, on Friday (March 26), Assembly Majority Leader Crystal Peoples-Stoke explained that it could take 18 months to two years for sales to start as the state establishes its rules, as well as a proposed cannabis board.
New Yorkers could individually grow up to three mature and three immature plants for personal consumption, and local governments could opt out of retail sales.
The legislation would also allow for sales of recreational marijuana to adults over the age of 21, and set up a licensing process for the delivery of cannabis products to customers.
Democratic State Senator Liz Krueger, the sponsor of the bill in the Senate and chair of the finance committee has said that she is motivated by righting injustices that have been caused by the previous laws regarding marijuana.
Per the Independent, she said: "My goal in carrying this legislation has always been to end the racially disparate enforcement of marijuana prohibition that has taken such a toll on communities of color across our state, and to use the economic windfall of legalization to help heal and repair those same communities."
The state is now preparing to eliminate penalties for possession of less than three ounces of cannabis, as well as automatically expunging the criminal records of individuals with past convictions for marijuana-related offenses.
A nine percent sales tax on cannabis would also established throughout the state, with an additional four percent tax split between the county and local government on top.
New York also plans on imposing an additional tax based on the level of THC - the active ingredient in marijuana - ranging from 0.5 cents per milligram for flowers to 3 cents per milligram for edibles.