marijuana stocks

Ever since the cultivation and sale of medical cannabis became legal in some parts of the United States, there have been groups in many states which have lobbied for the same concessions; however, that has not come to pass.

The state of New York has been one of the most important battlegrounds for legalization and in new development; the farmers in the state are lobbying the powers that be to legalize growing marijuana. They believe that it could turn out to be another cash crop for them.

Legalization And Regulation Of Marijuana

The farmer’s named New York Farm Bureau has created a memo by way of which it has backed the bill that is meant for the legalization of marijuana in the state. The provision in that bill will help in the legalization and regulation of marijuana, in addition to creating the tax structure for the sales of the product within the state.

However, it is also important to note that the bill has not had a lot of support from the senators in the Senate. One of the most important measures in the bill is the legalization of marijuana and hemp cultivation. Considering the fact that the farmers in the state are currently struggling, it could prove to be a measure that provides long term relief to the farmers.

The New York Farm Bureau is one of the most influential farmer’s company in the state and it remains to be seen how the state leadership reacts to its backing of the bill. In its memo, the group stated, “Given the current status of the farm economy in New York state, farmers recognize the potential opportunity the cultivation of cannabis could be for New York State’s agriculture industry.” Some of the lawmakers who are in favor of the bill will get a major boost in their efforts to legalize marijuana in New York State.

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