New York: Governor Cuomo indicators marijuana legalization invoice

0
95
Follow us on StockTwits

March 31, 2021 (Investorideas.com Newswire) New York Governor Andrew Cuomo today enacted the Marijuana Revenue and Taxation Act (MRTA), which legalizes, regulates and regulates a commercial adult marijuana market in New York State also allows those beyond the age of 21 to grow amounts of cannabis for personal use in their own homes.

The provisions governing personal possession of marijuana became effective upon signature.

“I just signed a law to legalize adult cannabis,” Governor Cuomo said in a statement. “The bill creates the automatic deletion of previous marijuana convictions that would now be legal. This is a historic day. I thank the Chairman and Speaker and the tireless advocacy of so many.”

Erik Altieri, executive director of NORML said: “This signals an end to the racially discriminatory policies that have long made the Empire State the marijuana arrest capital of the United States, if not the world,. This prevents the police from seeing tens of thousands of people annually to arrest.” New Yorkers for low-level marijuana crime, the majority of which are predominantly young, poor, and colored. “

NORML Deputy Director Paul Armentano added: “The passage of this law will not only have serious consequences for the economic and social justice of its nearly 20 million people, but it will undoubtedly have repercussions for the whole country and arguably the convention halls as well . ” Put further pressure on federal legislators to amend federal law to remove existing inconsistencies between state and federal cannabis policies. “

Six percent of the members of the US House of Representatives represent New York State, and seven percent of all chairmen of the committee and subcommittee of the House of Congress are from New York.

Troy Smit, Deputy Director of Empire State NORML, said: “It took activists, patients and consumers a lot of work and perseverance to move from being the capital of the world for cannabis arrests to being the world with a legalized market that can cope with it Dedicated equity, diversity and inclusion. That might not be the perfect law, but today cannabis users can hold their heads up and smell the flowers. “

The law established a process for the licensed manufacture and retail sale of marijuana to adults. Regulators would license delivery services and consumption facilities on-site. Retail sales are taxed at nine percent plus a local tax of up to four percent plus an additional tax based on the THC content. Places that don’t want cannabis retailers in their neighborhood can opt out but won’t receive tax revenue if they so choose. The law also provides expulsion facilities for millions of residents whose convictions relating to cannabis are on record.

Forty percent of the tax revenue is used for communities that are disproportionately affected by the cannabis ban. The MRTA’s regulations aim to give half of all corporate licenses to social justice applicants.

NORML is committed to changing public order so that responsible adult ownership and use of marijuana is no longer criminal. NORML is also committed to a regulated commercial cannabis market so that activities involving the for-profit production and retail sale of cannabis and cannabis products are safe, transparent, consumer-friendly and subject to a state and / or local license. Finally, NORML advocates additional changes to legal and regulatory guidelines so that those who use marijuana responsibly are not exposed to social stigma or discrimination in the workplace, and those with a criminal record for marijuana violations have the option of having their records automatically wiped out.

Learn more at norml.org and read our fact sheets on the most common misconceptions and myths surrounding reform efforts across the country.

Disclaimer / Disclosure: Investorideas.com is a digital publisher of third-party news, articles and stock research, creating original content including videos, interviews and articles. Original content created by Investorideas is protected by copyright laws other than syndication rights. Our website does not contain recommendations for buying or selling stocks, services or products. Nothing on our websites should be construed as an offer or solicitation to buy or sell any product or security. Every investment is associated with risks and possible losses. This website is currently rewarded for news posting and distribution, social media and marketing, content creation, and more. Disclosure is made for each compensated press release. The content will be published / created as needed. Otherwise the news was not compensated and published in the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific issues.

For more information about the disclaimer: https://www.investorideas.com/About/Disclaimer.asp For more information about getting your press release and our other news services available on Investorideas.com’s Newswire at https://www.investorideas.com/News -Upload / and tickertagstocknews.com

Global investors must comply with each country’s regulations. Please read the privacy policy of Investorideas.com: https://www.investorideas.com/About/Private_Policy.asp

Buy a cannabis guest post on Investorideas.com