On March 31, 2021, New York Governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act (“MRTA”) into law, making New York the latest state to legalize recreational marijuana. The MRTA allows adults aged 21 and older to possess, purchase, display, obtain, and transport marijuana in limited quantities. With this newly legalized usage and possession, it seems to be everywhere.
When it comes to allowing for the sale of cannabis, local authorities have the power to make their own regulations. This essentially means that the Board of Trustees on behalf of the Village of Ossining has a say regarding whether they will grant a license to dispensaries – and, if granted, what restrictions will govern the cultivation, processing, and distribution of cannabis at a retail dispensary.
The Village Board of Trustees will need to enact a law or opt-out by December 31 of this year. If Ossining does decide to permit the sale of cannabis, it could be a new revenue stream, as the new law imposes a 4% local tax on the retail sale of cannabis which will be distributed to the county as well as the Village.