Three top U.S. Democratic senators on Wednesday unveiled a discussion draft of a bill that aims to legalize cannabis, a move that would allow adult Americans to buy and possess up to 10 ounces of marijuana without facing criminal penalties.
Gov. Andrew Cuomo signed the state bill to legalize marijuana on March 31, and there is an estimated $350 million in annual tax revenues that the bill would bring to New York State.
A fast-growing cannabis company has purchased a 34-acre property in Jamesport for a $42.5 million from Van de Wetering Greenhouses in one of the largest purchases in the burgeoning industry. It is the first known marijuana-related real estate buy on the East End since New York State legalized adult-use cannabis in March.