The medical marijuana that will be inhaled via a vaporizer or distilled in oil form for patients in New York State will be grown in New York.
The legislation agreed to in Albany puts in place a 7 percent excise tax on every sale of medical marijuana by a registered organization to a certified patient or designated caregiver.
In announcing the deal, the Governor's office said proceeds from the excise tax would be allocated as follows:
- 22.5% to the county in New York state in which the medical marijuana was manufactured
- 22.5% to the county in New York state in which the medical marijuana was dispensed
- 5% to the State Office of Alcoholism and Substance Abuse Services to be used for additional drug abuse prevention, counseling and treatment services
- 5% to the Division of Criminal Justice Services to support law enforcement measures related to this legislation
It is not likely the new medical marijuana program will be up and running for at least 18 months. Click here for our previous coverage from Albany on the deal.