A bill to legalize recreational marijuana was voted out of a joint committee in the New Jersey legislature Monday afternoon, marking a giant step towards making the cannabis plant and its products available for legal adult use.

"It's very exciting. We made history today," said Roseanne Scotti, director of the Drug Policy Alliance of New Jersey. "This is the first time a legalization bill has ever been voted out of committee in New Jersey. So this was a huge win."

Senate Bill 2703 would legalize the possession and use of limited amounts of marijuana for adults 21 and older. It also would create a state system to oversee the operations of a new potentially multibillion-dollar industry.

The Senate Budget and Appropriations Committee voted 7-4 with two abstentions; the Assembly Budget Committee voted 7-3 with one abstention.