Shares of pot-selling companies popped after New Jersey politicians outlined plans to become the 11th state to allow recreational cannabis use by adults.

Garden State legislators Tuesday said they are joining Democratic Gov. Phil Murphy in supporting a bill to allow recreational pot use by adults.

That sent shares of cannabis companies higher, with Tilray, the Canadian pharmaceutical and cannabis company, climbing 3.1 percent. Cronos Group, a marijuana cultivator, rose 2.2 percent, while Canopy Growth, which boasts the largest market cap in the sector, gained 1.6 percent.

“Legalizing adult-use marijuana is a monumental step to reducing disparities in our criminal justice system,” said Murphy, who campaigned on legalizing pot in last year’s gubernatorial race.

The governor could seek a vote in both state houses — the Senate and the Assembly — as early as March 25, according to reports.

The bill is expected to enrich the state’s tax coffers by charging cannabis cultivators an excise tax of $42 per ounce. Municipalities will charge a 2 percent tax on local growers and manufacturers, a 3 percent tax on retailers and a 1 percent tax from wholesalers.

The bill includes “an expedited expungement process” to keep individuals convicted of low-level marijuana offenses from being penalized further when seeking education, housing and occupational licensing applications.

Other provisions seek to boost participation of minorities and women in legal marijuana businesses, and also seek to use the burgeoning industry as a way to provide opportunities to low-income individuals and disadvantaged communities.

“This legislation will establish an industry that brings fairness and economic opportunity to all of our communities, while promoting public safety by ensuring a safe product and allowing law enforcement to focus their resources on serious crimes,” Murphy said.