New York Gov. Andrew Cuomo signed a bill Monday that decriminalizes cannabis use in the state.
Why It Matters
After failing to pass adult use legislation during the most recent legislative session, New York will now reduce unlawful possession to a finable offense.
The bill removes all criminal penalties for possession of 2 ounces or less of marijuana, according to the Albany Times Union.
Additionally, the bill establishes an expungement process for marijuana offenses for possession of small amounts.
"Communities of color have been disproportionately impacted by laws governing marijuana for far too long, and today we are ending this injustice once and for all," Cuomo said in a statement.
“By providing individuals who have suffered the consequences of an unfair marijuana conviction with a path to have their records expunged and by reducing draconian penalties, we are taking a critical step forward in addressing a broken and discriminatory criminal justice process."
Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 — click here to learn more!
What’s Next
The bill takes effect 30 days from its signature.
Related Links:
Sorry, But New York Probably Won't Legalize Marijuana This Year
New York Same-Day Medical Marijuana Delivery Is Now A Reality
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.