ALBANY, N.Y. (NEWS10) — The Citizens Budget Commission has a new report out about potential revenues that could come from recreational marijuana if it’s legalized in New York.
Governor Andrew Cuomo has voiced support for legalizing recreational marijuana use. Earlier this month, he called it the “right policy” and said “the state is going to be desperate for funding.” But a CBC report says “state leaders should be cautious about relying on these potential revenues to help close budget gaps.”
Patrick Orecki, who authored the report, says there are two main phases after legalization. The first is working out the regulatory structure.
“What we’ve seen is that that takes generally over a year to get from legalization to a functioning commercial market. Those times have been trimmed quite a bit, frankly, as more states have implemented and states can draw on what has happened around the country. So about one year is reasonable there,”…
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