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Gov. Gavin Newsom on Monday signed a bill in an effort to give some relief to an industry that has struggled to supersede its illicit counterpart since voters legalized marijuana almost 10 years ago.

The law the cannabis excise tax to 15% until 2028, suspending an increase to 19% levied . The law is meant to help dispensaries that proponents say are operating under slim margins due to being bogged down by years of overregulation.

“We’re rolling back this cannabis tax hike so the legal market can continue to grow, consumers can access safe products, and our local communities see the benefits,” Newsom said in a statement, and that reducing the tax will allow legal businesses to remain competitive and boost their long-term

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