With time winding down on the latest legislative session, politicians have reintroduced a bill that would legalize recreational marijuana in New York state. According to a press release from the Drug Policy Institute, Senator Liz Krueger and Assembly (New York) member Crystal Peoples-Stokes (Buffalo) have brought back the Marijuana Regulation and Taxation Act.

The bill would end marijuana prohibition and set up a legal market which would then be taxed and regulated. It's estimated that New Yorkers spend as much as three billion dollars a year on the herb.

The bill was originally introduced back in 2013 and has been heavily modified since then. They've incorporated lessons learned from the four states that currently operate legal marijuana markets. It includes several 'small-business' friendly provisions, creating a micro-license structure similar to the craft beer and wine industry which would allow small scale production, sales and delivery.

It's a long shot the legislation will pass the state legislature. Even if it does, Governor Cuomo has stated that he's for smokeless medical marijuana, but he does not support the legalization of recreational marijuana.