It was contained in Part H of the revenue bills embodying Governor Andrew Cuomo's budget proposal, A3009 and S2509.
The Cannabis Regulation and Taxation Act was proposed by the governor on January 19, 2021 as part of the state budget.
[3] The act creates the Office of Cannabis Management (OCM) within the Division of Alcohol Beverage Control, a licensing regime with social equity provisions, and legalizes cannabis for adult use.
[2] Tax revenue under the act for the state is estimated in the governor's budget proposal to be at least $350 million annually.
[4] The president of Monroe County Police Chiefs Association said that under the proposed regulatory regime, illegal, unregulated sales would increase because "[unregulated] marijuana is cheaper than going to the state’s marijuana dispensary".