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An estimated $350 million in annual revenue is expected from the 13 percent sales tax on the drug, with 40 percent of the revenue going to a community reinvestment fund.
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By late 2022, adults in the state would be able to buy cannabis in retail stores, and could also sample the drug in tasting rooms.
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"I feel much more comfortable about that scenario than I would around rushed budget negotiations that would be based off of the Governor's position."
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PA faces a new dynamic if and when it considers whether to pursue its own recreational marijuana legalization measure.
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“We really are asking our farmers to be patient as we try to work this out with the federal government.”
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Cuomo said he’ll go to California, Colorado, Illinois and Massachusetts in the coming weeks to meet with officials there and find out how they are carrying out the monitoring, sale and taxing of the drug.
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Many cannabis companies saw their stock prices soar in the first few months of 2019, only to see their valuations collapse.
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Thousands of visitors converged on the Jacob K. Javits Convention Center this week for the sixth annual Cannabis World Congress and Business Expo.