New Mexico Legalizes Recreational Cannabis Market

In New #Mexico, lawmakers approve a #recreational #cannabis market, while passing separate legislation to expunge past low-level #marijuana convictions. During a special session called by #democrat Governor Michelle Lujan #Grisham specifically for the purpose, the bill went back and forth between both chambers, eventually clearing the state #House by a voice vote after an amended version passed the #senate by 22 to 15. The measure will permit #adults 21 and older to purchase and possess up to 2 ounces of dry cannabis, 16 #grams of #concentrate, and 800 milligrams of #infused #edibles. It will also allow home cultivation of as many as 6 plants per person and 12 per household. Other aspects of the legislation include the establishment of a Cannabis Control division and corresponding advisory committee, no initial cap on the amount of #business licenses, and a progressive excise #tax rate, which, in combination with state and local levies, will result in retail #taxes of 17 to as much as 27 percent by 2030. In addition to the separate expungements measure, another bill to fund the adult-use program was also approved during the special session. Reform advocate Governor Lujan Grisham, who has already agreed to sign the proposal, made recreational marijuana a priority following pressure from bordering states #Colorado and #Arizona, with #southern neighbor Mexico’s pending cannabis legalization imminent. With all cannabis business license applications due #January 1st, New Mexico’s projected 125 #million #dollar market is due to launch by #April 1st of next year.

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William Bradley

William Bradley

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