New Jersey is on the verge of ushering in a new era for cannabis in the region after a bill passed last month that would make recreational marijuana legal.
The bill could land on Gov. Phil Murphy's desk before the end of the month, and it would bring a whole new set of regulations.
With legalization looking more and more likely, here’s what you didn't know about the proposed bill. [[429904463, C]]
New Jersey Cannabis Sales Could Generate $850 Million in Revenue
This is only if Gov. Phil Murphy gets his way. One version of the bill called for a 12 percent tax but Murphy wants to see something closer to 25 percent. The latter could rake in upwards of $850 million to the Garden State.
Other states with legal cannabis are seeing those projections soar into the billions. California could bring in more than $2 billion this year alone, for instance.
Bill Paves Way for 'Consumption Areas' Outside the Home
Don't get too excited for an Amsterdam-style cafe just yet. New Jersey lawmakers included a provision for consuming cannabis at locations that will be tightly monitored.
Approved locations would include dispensaries operated by state-approved cannabis retailers or alternative treatment centers. The spaces could be indoors - in a section separate from retail sales - or outdoors but on the same premises as an authorized distributor.
Sit Back, Relax and Order Your Cannabis
Now this is exciting, especially for patients with mobility problems or people strapped for time. A current version of the bill allows dispensaries or third-party vendors to bring orders right to your door.