Governor Cuomo's rollout of a reworked Cannabis Regulation and Taxation Act means this may finally be the year New Yorkers get access to legal weed. And while a similar legalization push floundered in the statehouse last year, many are optimistic about its odds during the 2020 legislative session. Not only are the vast majority of New Yorkers in favor of adult-use sales, but legislators staring down the barrel of a $6 billion budget hole will be hard-pressed to turn down an estimated $300 million in annual tax revenue.
As for the New York lawmakers who haven't yet succumbed to the siren song of legal marijuana? Their colleagues may soon force their hand. Massachusetts currently allows for adult-use sales — and Connecticut, Rhode Island, and New Jersey are all aggressively eyeing legalization. Cuomo has even helped convene neighboring leaders to coordinate a regional approach to the effort. If the other states' proposals pass, New York will be forced to choose whether to follow their lead or risk watching those potential tax dollars pad the budgets of neighboring states — plenty of New Yorkers are already heading to Massachusetts to get legal cannabis.
Still, legalization is far from a done deal. Like last year, we're sure to see a showdown between Cuomo and the Legislature when it comes to the issue of 'social equity.' Many Democractic lawmakers want a guarantee that a percentage of New York's cannabis tax revenues will help fund programs and policies that serve the communities hit hardest by decades of marijuana arrests. Cuomo would prefer to put the money in the state's general fund, where he can distribute it as he sees fit.