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However, those neighborhoods that chose out are not locked out of the chances the industry will deliver. They can constantly decide back in. Keep in mind that no city, town or village can decide out of legal cannabis. Marijuana is legal for those aged 21 years and over throughout New York.
We call this duration prohibition and we understand it was devastating to our communities of color. For example, in 2020, the last complete year prior to the MRTA was passed, 90% of those arrested in New york city City on cannabis charges were people of color. Considering that the passage of the MRTA, we've started taking steps to best the wrongs of the past and the variety of arrests for marijuana have actually been significantly minimized.
This suggests eliminating or eliminating marijuana arrests and convictions from a person's criminal record. The state has actually currently made terrific progress on expunging nearly 400,000 marijuana arrests and convictions. MRTA sets a goal of providing 50% of licenses in the adult usage marijuana market to what it calls social and economic equity applicants.
It likewise includes people who come from the communities most impacted by over policing throughout marijuana restriction. Under the MRTA, concern is specifically offered to those individuals who were detained or convicted of cannabis charges and their instant families. Solution Can Be Seen Here developing a holistic system to support services and individuals through the entire procedure.
Our governor took a huge action in her State of the State with the statement of a $200 million public personal fund that will supply capital financing to equity business owners. The MRTA generally structured the adult use market across 2 tiers and attends to 9 license types. It's created to develop a variety of ways to get in the New york city marijuana market and to keep it competitive.
The guidelines, which we will produce later on this year, will further define what candidates require to use. We expect these regulations to become offered as soon as the next number of months. We formally released the cannabinoid hemp program in New York State. Through this program, we set clear standards for production, product packaging, labeling, and testing of CBD items that are all grounded in public health finest practices.