Walter Mosley (d-brooklyn) And Michael Blake (d-bronx).

“Allowing adult personal use, with appropriate regulation and taxation, will end the heavily racialized enforcement that disproportionately impacts African American and Latino New Yorkers, locking them out of jobs, housing, and education, and feeding the prison pipeline.” The state, too, would see benefits. Tax revenues are projected to be a huge supplement for the outsized state, home to a population of 20 million—roughly Marijuana Stocks two-thirds that of Canada. Key sponsors of the bill include Sens. Jamaal Bailey (D-Bronx), Jesse Hamilton (IDC-Brooklyn), Gustavo Rivera (D-Bronx), and Reps. Walter Mosley (D-Brooklyn) and Michael Blake (D-Bronx). In an effort to get an early slice of the cannabis pie, companies and investors are beginning to flock to the Empire State. Most recently, cannabis finance and investment firm iAnthus Capital Holdings , which owns, operates, and partners with licensed cannabis operators throughout the country, announced it will expand into New York. The company announced Monday morning that it has signed a letter of intent to wholly acquire Valley Agriceuticals which has received conditional approval from the state Department of Health to receive one of just 10 medical marijuana licenses to be issued by the state. “With a population of nearly 20 million residents, a rapidly growing patient base, and only ten medical cannabis licenses, New York is an ideal market for iAnthus to enter,” company President Randy Maslow said in a statement. “The state’s move to eliminate some of the [medical marijuana] Program’s initial limitations has created an incredibly potent opportunity for accelerating patient growth.

To read more visit https://www.leafly.com/news/industry/new-york-relaxes-cannabis-rules-industry-wants

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