We’ve referred to New York’s marijuana regulation and taxation law in a few previous blog posts, citing its pro-business inclination and apparent inclination toward true cannabis reform.
The MRTA is widely recognized across the country as legislation that must be studied and emulated in other states that are also looking to provide new opportunities for business participants. We confirmed in a November 14 blog post from last year MRTA “espouses a legal philosophy that is undeniably bold and futuristic.”
Where does this potential law stand now? It has gained widespread momentum and support, but it can be said that it has now stalled in its tracks.
The reason is clear. New York post highlighting Developments in the scheme to legalize cannabis for the state It indicates the harmful effects of the current health epidemic on business opportunities and expansion. The Democrat & Chronicle asserts that New York’s hope to “legalize marijuana as a way to increase revenues, reduce confinement rates and capture a portion of the fast-growing business sector” is currently stalled.
This is unfortunate, given that a large majority of New Yorkers say they support legalizing cannabis.
The facts surrounding COVID-19 have put an impact on controlled marijuana legalization and the expected timeline, but advocates do not believe the MRTA will permanently skew. A state representative says that “when the storm settles … we will pass some form of rationing.”