If New York legalizes marijuana for non-medical use, the state can also impose new taxes on it.
That is what other state have done, like Colorado, which collected more than $265 million during the most recent fiscal year. But that came four years after legalization.
And in California, $82 million in new tax revenue sounds like a lot, until you realize the state was expecting $185 million.
So the Citizens Budget Commission is warning New York lawmakers not to count their chickens before their hatched when it comes to marijuana money. David Friedfel explains.