Two New Jersey legislative committees advanced legislation Monday that might implement an adult-use cannabis market, a primary step after voters handed a milestone legalization referendum on Election Day.
The similar state Senate and Assembly measures, which construct on a earlier Senate bill, would allow current medical marijuana operators to fast-track right into a leisure market.
The present model of the implementation bill additionally units targets for the state to concern a minimum of 15% of licenses to minorities and one other 15% to women-owned and disabled veterans companies.
But social justice advocates criticized the laws for not explicitly reinvesting marijuana tax income into communities affected by the warfare on medication, NJ.com reported.
The approvals by the Senate Judiciary Committee and the Assembly Oversight Reform and Federal Relations Committee got here after the primary set of public hearings on the laws Monday.
“What this market does, and the way it is written now, is give 70% of the licenses, the finances and the economic windfall, quite frankly, to white men,” Rev. Charles Boyer, founding father of the racial justice group Salvation and Social Justice, mentioned throughout one of many public hearings, in accordance with NJ.com.
Additional hearings are scheduled for Thursday. The measure is predicted to be amended as additional discussions and negotiations happen.
Lawmakers had hoped for the total Senate and Assembly to go the measure by Nov. 16. But it’s unclear whether or not that timetable might be met.
“I think we do have a great piece of legislation here,” state Sen. Nicholas Scutari mentioned, in accordance with NJ.com. “We’ll make it a little bit better in the next week.”
Scutari launched the Senate bill to legalize marijuana.
Marijuana Business Daily tasks that the New Jersey adult-use marijuana program will generate $850 million-$950 million in annual revenues by 2024.
Experts say that legalization in New Jersey will increase the stress on neighboring states similar to New York and Pennsylvania to observe swimsuit.