San Francisco (CNN) New York wasn't able to legalize cannabis last year, but Governor Andrew Cuomo vows it'll happen this time around.

Cuomo on Wednesday highlighted adult-use cannabis legalization as one of his 2020 priorities. His proposal includes forming an Office of Cannabis Management to regulate medical, adult-use and hemp programs; ensuring that social equity and social justice needs are met; working in concert with neighboring states; and creating a cannabis and hemp research center at the State University of New York.

If Cuomo is successful, New York would become the 12th US state to legalize cannabis for recreational use, and it would follow on the heels of Illinois in being the second state to legalize via a legislative measure.

Although New York wouldn't be the first to the table, its emergence as a state-legal cannabis market could be historically significant, said Morgan Fox, of the National Cannabis industry Association, the trade association representing and lobbying on behalf of US cannabis businesses.

"It'll really be a gigantic market," he told CNN Business, noting New York's population base, immense tourist draw and financial hub. "[New York legalizing would] have ripples in global policy when it comes to cannabis."

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