New York State just legalized marijuana. Well, sort of. From one of the news stories about it,

"New York officials reached an agreement yesterday that would potentially legalize recreational marijuana in the state, according to reports. The proposal would allow delivery of the drug and allow lounges where patrons could buy and consume cannabisthough the establishments would be prohibited from selling alcohol. The deal would also allow individuals to grow up to six plants at home for personal use. If fully implemented, analysts project the new laws would generate more than $300M in annual revenue via taxes.

New York would join 14 other states and the District of Columbia in legalizing small amounts of the plant for adult recreational use (see overview), while 35 states and the District of Columbia allow it for medical purposes. The use of marijuana is still technically prohibited for any purpose under federal law.

If passed, the new law likely won't take effect until 2022."

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In a conversation among some students, they suggested that the projected $300 million of annual tax revenue was a benefit of the new legislation. Comment.