TRENTON - After months of negotiations, Gov. Phil Murphy and Senate President Stephen Sweeney have reached the framework of a deal on marijuana legalization that could send the bill to a legislative vote this month.

The compromise centers around a new way to tax legal weed and strengthening the governor's control of the proposed Cannabis Regulatory Commission, which would issue licenses for dispensaries and set guidelines, parameters and regulate the New Jersey cannabis industry.

New Jersey Globe was the first to report that a deal was in place.

The biggest change as a result of the Murphy-Sweeney deal is a complete overhaul of the taxation system for marijuana. Instead of simply levying a sales tax on legal weed, the state would instead impose a flat rate of $42 per ounce of marijuana, Sweeney confirmed to reporters.

He noted that the legal weed bill was still a work in progress, even though the major issues had been agreed to.

“If you’re not getting the sales and you’re not generating the tax dollars, what’s the sense of having a high tax rate?” Sweeney said.

The flat rate is important, as it means marijuana users will pay the same tax rate no matter what: $42 for an ounce, $21 for a half-ounce, $10.50 for a quarter-ounce or $5.25 for an eighth-ounce.

The value of that tax rate will fluctuate along with the price of cannabis, getting higher as the price drops. For example, a $42 tax on a $300 ounce is essentially a 14 percent tax. But on a $200 ounce, it represents a 21 percent tax

The most recent version of the New Jersey marijuana legalization bill, which was advanced by legislative committees in November, called for a 12 percent sales tax, which would be the lowest in the country.

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In its 2018-19 budget, the Murphy administration had planned for a 25 percent sales tax ratewhen it looked like weed would still be legalized within his first 100 days in office.

The change to the make-up of the Cannabis Regulatory Commission is a simple one. As before, Murphy will still appoint three commissioners to the five-member board.

But under the new deal, he would do so without the advice and consent of the Senate — meaning the governor can appoint a commissioner without legislative approval.

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The remaining two members would still be recommended by the Senate president and Assembly speaker, as written in the most recent version of the legal weed bill.

Even though a rough deal is in place, a new or amended bill won't be introduced until it's finalized and legislative leaders can drum up more support, ensuring it would pass.

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Mike Davis; @byMikeDavis: 732-643-4223; mdavis@gannettnj.com