New York has become the 15th U.S. state to legalise the recreational use of marijuana.

New York Governor Andrew Cuomo signed into law a measure to immediately legalise possession of small amounts of marijuana today (March 31).

People previously convicted of crimes which are legal under the new law will also have their criminal convictions expunged

“This is a historic day in New York,” Cumo said in a statement. “One that rights the wrongs of the past by putting an end to harsh prison sentences, embraces an industry that will grow the Empire State’s economy, and prioritises marginalised communities so those that have suffered the most will be the first to reap the benefits.”

Under the new law, New Yorkers aged 21 and older will be allowed to possess up to 3 ounces of cannabis for recreational use, or 24 grams of concentrated forms.

It has been reported that the legalisation of recreational marijuana in New York could create up to 60,000 jobs and generate $350 million in annual tax revenue for the state.