NJ Lawmakers Reach Deal On Marijuana Bill: Here's What's Next

NEW JERSEY – New Jersey lawmakers announced on Friday evening that they have reached a deal on a bill that would provide the framework for marijuana legalization.

Gov. Phil Murphy, joined by Senate President Steve Sweeney, Speaker Craig Coughlin and two other lawmakers, announced in a joint statement that they reached an agreement on legislation that could be passed by the end of the month.

The statement, which also was attributed to state Sen. Nicholas Scutari and Assemblywoman Annette Quijano, noted New Jerseyans voted overwhelmingly in November in support of the creation of "a well-regulated adult-use cannabis market."

New Jerseyans approved marijuana legalization in the Nov. 3 vote by a 67 to 33 percent margin. The constitutional amendment will legalize marijuana for anyone 21 and older on Jan. 1.

"This legislation will accomplish our shared goals of delivering restorative justice and ensuring that the communities most impacted by the War on Drugs see the economic benefits of the adult-use cannabis market," the statement said.

But lawmakers still needed to work out a framework for selling and distributing marijuana even as the constitutional amendment takes effect.

The details of the agreement were not announced, but lawmakers have long had differences over how much marijuana will be taxed and how it will be sold.

Indeed, state lawmakers and the Cannabis Regulatory Commission still need to hammer out how much marijuana people could legally possess and whether people will be allowed to grow cannabis at home.

Many experts estimate it would likely take at least a year and possibly longer before the first legal pot in New Jersey would be sold.

The statement noted that the vote itself, however, was "a critical step in reducing racial disparities and social inequities that have long plagued our criminal justice system."

"While there is still much work ahead, we are one step closer to building a new, promising industry for our state," the statement said.

Advocates have been pushing for legalization for years, pointing to long-running disparities in marijuana arrests and a potential windfall of tax revenue. Opponents have pushed back, alleging it would jeopardize public safety.

The issue regained the spotlight after Murphy made it a cornerstone of his gubernational campaign in 2017. Since taking office, Murphy has vastly expanded the state's medical marijuana program, earning praise from many cannabis advocates. But he hasn't been able to rally enough support in the Legislature to legalize recreational marijuana.

Lawmakers came close to a reaching an agreement last year, but fell about five votes short and decided to punt the decision to voters. READ MORE: NJ Voters Will Decide Whether To Legalize Marijuana

Legalizing recreational cannabis could raise some big bucks for the state as prepares to borrow billions of dollars to help it weather the coronavirus pandemic, some experts say.

The public question will apply the state sales tax of 6.625 percent to recreational marijuana purchases. Local municipalities would be able to enact an additional sales tax up to 2 percent.

In 2017, Roseland-based law firm Brach Eichler estimated that if New Jersey embraced an "aggressive privatization" of the cannabis industry, it could bring up to $1 billion to the state within the first year of legalization.