April 1, 2021 — Yesterday, Governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act into law, immediately legalizing the possession of up to 3 ounces of marijuana for adults 21 and over and establishing a government agency that will regulate and license a retail industry that’s expected to raise hundreds of millions in tax revenue for New York State.
Steve Malito, Chair of DHC’s New York State Government Relations practice, was featured in Times Union discussing how there will be an abundance of supply once the industry is up and running. Malito, who works closely with clients in the alcohol and cannabis industry, noted “there potentially could be hundreds of marijuana retailers across the state.”
The legalization of marijuana will end harsh prison sentences, grow New York’s economy, and prioritize communities that were disproportionately affected by drug enforcement and mass incarceration.
For more information, please contact Steve Malito at [email protected].