After the bill was signed, Governor Andrew Como made it clear that it was a historic day that would stimulate New York State financially.
It is expected to create more than 60,000 new jobs. This would increase the annual revenue to the state treasury by more than $ 300 million. Forty percent of the revenue will be used for the development of schools.
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With the enactment of the Cannabis Cultivation Act, a person can possess up to three ounces. A maximum of six plants can be grown in a house. Penalties for previous use of cannabis will be abolished. At the same time, sales are expected to wait until 2022 to begin. It is now legal in only 15 states, including New York.