New York will once again take a look at an issue that could raise much-needed tax revenue for the state. According to the Associated Press, the New York State Assembly will hold up to four hearings this fall in an attempt to seek public input on the legalization of recreational marijuana.

Representative Cyrstal Peoples-Stokes proposed a bill last legislative session that would regulate and tax the adult use of marijuana. The bill was proposed late in the session and there wasn't adequate time to debate the matter. The hearings are to be planned by Joseph Lentol, Richard Gottfried, Linda Rosenthal and Peoples-Stokes.

According to Forbes, Governor Cuomo received a report from the NY State Health Department in July that stated the positive effects of legalization would outweigh the negative. The 75 page report also mention that tax revenue in the first year could be anywhere from $248-$650 million.

A Quinnipiac poll in May found that 63% of New Yorkers support legalization. Where do you stand, should New York legalize recreational marijuana statewide?

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