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New York State officially passed and signed into law a bill that legalizes the production, distribution, and adult-use of cannabis in the state (S.854A/A.1248A).
The new legislation, known as the Marijuana Regulation and Taxation Act (the Act), allows those who are at least 21-years of age to use, smoke, ingest or consume cannabis products. It also allows those 21 and over to possess up to three ounces of cannabis or 24 grams of concentrated cannabis without penalty.
This memo is intended to highlight key considerations for clients interested in joining the adult-use cannabis industry. Additional regulations are expected with respect to the Act, although nothing has been published to date.
New York State Legalizes Adult-Use Cannabis Through Marijuana Regulation and Taxation Act | Cozen O'Connor jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.