The new legislation, known as the Marijuana Regulation and Taxation Act , allows those who are at least 21-years of age to use, smoke, ingest or consume cannabis products.
The Act prohibits one company from handling all parts of a recreational transaction, although a single party may be both a grower and wholesale distributor.
However, such dispensaries and consumption sites will not be legally permitted until the state issues licenses to the cultivators, processors, distributors and retailers.
It is given the authority to implement and enforce regulations governing medical, adult use, and cannabinoid hemp.
Once the OCM implements regulations and issues licenses to various actors in the cannabis industry, recreational sales of adult-use cannabis may commence at dispensaries and consumption sites.
Patients will no longer be prohibited from smoking medical marijuana, as has been the case since the state legalized medical marijuana in 2014.
The Act provides that New York State will set a 9% sales tax on cannabis, a 3% local tax and a 1% county tax.
Revenue raised from the sale of adult-use and medical cannabis will be deposited into a new Cannabis Revenue Fund.
Cities, towns and villages may regulate the use and sale of cannabis more strictly, including by passing a local law to opt out of allowing adult-use dispensaries and consumption sites in their communities.
Department of Justice has relaxed enforcement, marijuana remains illegal and is classified as a Schedule I controlled substance under the federal Controlled Substances Act.
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