Assemblymember Pichardo passes landmark marijuana legalization providing restorative justice, economic boost

 

Assemblymember Victor M. Pichardo (D-Bronx) announced that he helped pass the Marijuana Regulation and Taxation Act (MRTA), which he co-sponsored, to advance restorative justice and provide economic opportunities for local communities (A.1248-A).

    “For years, iron-fisted and discriminatory marijuana prohibition laws have devastated the lives of thousands of New Yorkers and disproportionately affected communities of color,” Pichardo said. “Legalizing marijuana is one small step toward bringing restorative justice to those who have been severely harmed by the war on drugs and will help deliver economic justice during these incredibly challenging times. I strongly support this bill and thank Majority Leader Peoples-Stokes for her leadership on this landmark measure for the state of New York. I’ll continue fighting to rectify the decades of suffering caused by the war on drugs and help uplift our communities.”

    The bill includes measures to ensure revenue from the state’s marijuana industry directly helps the communities that are disproportionately impacted by draconian drug laws, Pichardo noted. The Cannabis Revenue Fund will receive taxes on dispensary sales to consumers at a rate of 13% of the sale price. This fund’s tax revenue would be distributed to areas benefiting local communities, including 40% to education, 40% to the Community Grants Reinvestment Fund and 20% to the Drug Treatment and Public Education Fund. Funding will also be provided for low-cost loans and incubator programs benefiting social equity applicants.

    Additionally, an economic equity plan would be established to ensure that a certain percentage of the cannabis licenses go toward communities impacted by the war on drugs, Minority- and Women-Owned Business Enterprises (MWBEs), veterans with disabilities and other priority applicants. Pichardo noted these measures would prevent corporate dominance in the legal marketplace and help diversify the cannabis industry through more equitable licensing, ownership and employment.

EDITOR'S NOTE:

Let's hope this is another bill passed in Albany that was not well thought out like previous bills that have been recently passed by this new Progressive agenda. Next will they legalize prostitution.