Speed Reads

puff puff pass the legislation

New York's recreational marijuana deal includes licenses for 'club-like' consumption sites

New York state legislators have reached a deal to legalize recreational marijuana, and it goes beyond what other states allow.

The New York Times reports the deal involves "club-like lounges or 'consumption sites' where marijuana, but not alcohol, could be consumed."

Officials haven't given many details on the consumption sites, but the news drew immediate comparisons to "Amsterdam-style coffee shops." (This may be good timing, considering the Times also reports Amsterdam is moving to slow down its marijuana sales to foreign customers.)

The deal in New York would provide different licenses for cannabis farmers, distributors, product makers, dispensaries, and retail consumption sites, reports the Democrat & Chronicle.

One of the biggest sticking points in reaching a recreational marijuana deal has been how the revenue would be split up. New York's cannabis market is estimated to be around $4.6 billion and is expected to grow to $5.8 billion by 2027, reports the Times. Under the new agreement, lawmakers have agreed to divvy up tax revenue (coming from a 9 percent state and 4 percent local tax) between public education, communities affected by the war on drugs, and drug treatment, prevention, and education programs. Gov. Andrew Cuomo's (D) office has estimated recreational marijuana could generate about $350 million in yearly tax revenue.

Read more about the deal at The New York Times.