New York Governor Kathy Hochul on Wednesday signed legislation to reign in the state’s illicit marijuana market that includes penalties for unlicensed cannabis retailers of up to $20,000 per day. The legislation, which increases civil and tax penalties for the illicit sale of cannabis in New York, was signed into law as part of the state budget for the 2024 fiscal year.
Hochul first proposed the new measures to address New York’s underground cannabis market in March as a way to prop up the emerging industry for recreational marijuana, which was legalized by state lawmakers in 2021. Regulated sales of
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