EDITOR'S NOTE: Are you interested in the N.J. cannabis industry? Subscribe here for exclusive insider information from NJ Cannabis Insider.

The nearly year-long slog to have a multi-billion-dollar legal marijuana industry in the Garden State takes a major first step Monday.

State lawmakers will begin to debate a recently unveiled bill that would pave the way to making New Jersey the latest state to legalize recreational marijuana.

The measure has been debated privately in the Democrat-controlled state Legislature for years, but never stood a chance of becoming a reality under former Gov. Chris Christie, a Republican who stood in staunch opposition.

But with a change in leadership 10-months ago in Gov. Phil Murphy, a Democrat who campaigned on legalizing cannabis, lawmakers are finally set to put the process in motion.

Public discussion on the 147-page "New Jersey Cannabis Regulatory and Expungement Aid Modernization Act" begins Monday, followed by legislative votes to push the measure to the next step in the process: a full vote on the floors of the state Senate and Assembly.

In short, the legislation would legalize the possession and personal use of one ounce or less of marijuana for people at least 21 years old, and create, regulate and impose a 12 percent tax a commercial marijuana industry in the state. An extra 2 percent excise tax would be raised for towns which host cannabis businesses.

It also creates a framework for an "expedited expungement" process for people who have prior arrests and convictions for possession or distributing up to an ounce of marijuana. Within six months of the law's enactment, the Administrative Office of the Courts must create an electronic filing system for expedited expungements.

"This is what most of New Jersey has been waiting for," said Assemblyman Jamel Holley, D-Union, one of the bill's sponsors. "There's been a lot of dialogue from legislative leadership, lawmakers and those interested in the public policy, and now everyone is waiting for this next step. We have a great opportunity to hear everyone's legitimate concerns and from those who support it, what we can do better."

"This is long overdue," he said.

The public will get just one opportunity to be heard -- at 10 a.m. Monday at the Statehouse in Trenton -- as state lawmakers from both houses of the Legislature will hold one hearing on the long-awaited legislation.

The negotiations over the legalization bill have stalled in recent months between state Senate President Stephen Sweeney and Murphy, who have disagreed over the tax rate and whether a new commission should exercise control over the new industry.

Sweeney, D-Gloucester, said he and the Democratic governor have not agreed on the bill. But he said he didn't want to wait any longer.

The Senate and Assembly budget committees will meet to debate and vote on the legalization bill, (S2703), which would also permit cannabis delivery services and permit dispensaries to create "consumption" areas -- public lounges separate from the retail operation, where people could get high.

Holley said he became involved to help shape the social justice aspects of the bill -- how people will be able to expunge offenses that will no longer be a crime in New Jersey, and how minorities, women and disabled veterans will be given opportunities to participate in what is expected to be a $2 billion economy.

The social equity aspects of the bill "will be one of the best in the country," he said.

In addition, the Senate Health, Human Services and Senior Citizens Committee is scheduled to meet at the same time down the hall to approve two bills, (S10) and (S2426) that promise to make the medicinal marijuana law more consumer-friendly and expand the economic reach of the medical market.

The medicinal marijuana bills will be forwarded to the joint budget committees, which are expected to approve them on Monday, as well.

Since March, when Murphy expanded the list of qualifying medical conditions and reduced the cost of patient registration, enrollment has doubled, from 18,500 patients to 37,500, according to the state health department.

But the new legislation would give doctors more freedom to recommend the program to a wider array of patients and help patients control costs by reducing the number of times they must see a doctor to maintain their eligibility, from four times a year to once a year. And entrepreneurs will be permitted to operate as for-profit entities, making it easier to attract investors.

"The bill measurably increases patient access and lowers costs, and those are key elements for any patient who, under the current law, has to pay out-of-pocket," said state Sen. Joseph Vitale, D-Middlesex, chairman of the Senate's health committee.

All legislation must be voted on by the full 80-member Assembly and 40-member Senate before it goes to the governor's desk.

Susan K. Livio may be reached at slivio@njadvancemedia.com. Follow her on Twitter @SusanKLivio.

Matt Arco may be reached at marco@njadvancemedia.com. Follow him on Twitter @MatthewArco or Facebook.