Governor Murphy, a Democrat, indicated he wants to sign legislation to legalize adult use of cannabis by the end of 2018. If the legislation succeeds, analysts predict legalization will generate $1 billion of revenue in its first year.
New Jersey has two competing legalization bills under consideration in the legislature that vary regarding the proposed rate of taxation, legality of home cultivation, the number of shops permitted to operate and the level of government regulation. Political momentum for cannabis reform has been growing in the wake of successful programs in Colorado, Washington and other states. Some New Jersey legislators support legalization as a method of generating revenue required for funding other budgetary obligations.