Jay-Z 'Incredibly' Excited Over New York's Marijuana Legislation

The record executive husband of Beyonce applauds the state for 'paving the way for a thriving and equitable cannabis market,' calling the new regulation 'incredibly exciting.'

AceShowbiz - Just like gay marriage and internet gambling, legalization of recreational marijuana use is an issue riddled with controversy. It, however, has found a supporter in Jay-Z. Just days after the passing of New York's marijuana legislation and taxation act, the music mogul voiced his opinion and gave it a big applaud.

"The news of cannabis legalization in New York is incredibly exciting," the Grammy Awards winner told The Grio in a statement. He went on saying that it was also a matter of equitability and liberty. "It represents a long overdue opportunity for New Yorkers, for the cannabis industry, and for social equity and social justice," he said.

"I've seen firsthand the harm inflicted for generations against Black and minority communities by the war on drugs right here in New York," the husband of Beyonce Knowles then explained. "Today, I'm proud to see my home state join The Parent Company in paving the way for a thriving and equitable cannabis market."

Jay-Z is a Chief Visionary Officer for The Parent Company, the largest vertically integrated marijuana company in California. In addition to the role, the "Empire State of Mind" hitmaker also has his own cannabis brand, Monogram.

Steve Allan, the CEO of The Parent Company, has praised Jay-Z for bringing "dignity to cannabis" industry. "Jay Z has been instrumental to what we do," he told The Grio. On the legalization of marijuana use, he commented, "Look they weren't worried about the law as much as trying to decide how to split up the tax revenue."

The new bill that allows adults 21 and older to use recreational marijuana was signed by New York Governor Andrew Cuomo on Wednesday, March 31. It came after the state Senate and Assembly voted to approve the legislation.

"This is a historic day in New York -- one that rights the wrongs of the past by putting an end to harsh prison sentences, embraces an industry that will grow the Empire State's economy, and prioritizes marginalized communities so those that have suffered the most will be the first to reap the benefits," Andrew said in a release on Wednesday.

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