As wrangling continues over a bill to legalize recreational marijuana in New Jersey, which proponents say could generate $80 million to $100 million in annual revenues, the New Jersey State League of Municipalities is warning mayors that time is of the essence to protect their towns against costs—and to reach for their slice of the pie.
Meanwhile, many Pascack Valley and Northern Valley municipalities have come out strongly against legalization and local sales.
A marijuana legalization bill is expected to be introduced this year, and in fact was a campaign pledge of Democratic Gov. Phil Murphy.
But without more tax revenues going to local governments, the league contends municipalities will bear increasing costs from marijuana legalization while the state reaps maximum tax revenues.
The organization, a voluntary association created by a New Jersey statute in 1915 to serve municipalities and local officials, said it does not want cities, towns, and boroughs left with unanticipated or unintended costs.
The league is urging mayors to request their state representatives who support legalization to also support an up to 5 percent tax on marijuana-related revenues for local host communities.