The New York State Senate and State Assembly both voted March 30 for a bill to legalize recreational marijuana that New York Governor Andrew Cuomo has said he will sign. CNBC reports that the Senate voted 40-23 to pass the bill, with local State Senator Michelle Hinchey, a Democrat, voting for the new law, and Daphne Jordan, a Republican, voting against. The Assembly also passed the bill largely on party lines, 100-49, with local representatives Didi Barrett, a Democrat, voting in favor, and Chris Tague, a Republican, voting against. New York will become the fifteenth or sixteenth state in the country where marijuana is legal, depending on when Cuomo signs the bill, as New Mexico is also considering a similar law. The District of Columbia has also legalized the drug for recreational use. New Yorkers already spend money in Massachusetts on legal marijuana, and the New Jersey legislature also voted in favor of legalization recently. Possession of up to three ounces of marijuana and 24 ounces of marijuana concentrate, or up to six plants at home ,are allowed under the law. Cuomo's office estimates the state will eventually net $350 million a year in taxes and add 60,000 jobs. Of the funds raised, 40 percent goes to a social equity fund to help communities besieged by the war on drugs, 40 percent goes to education, and 20 percent goes to drug treatment programs. Once Cuomo signs the bill, the plant will be legal effective immediately, but recreational sales are not expected to begin for another year or two as the regulatory structure is put in place. Read more about this story on the CNBC website.