New Mexico able to legalize grownup hashish

On March 31, 2021, New Mexico lawmakers agreed on SB2 / HB2, a bill that legalizes the use of cannabis for adults. The bill is now going to Governor Michelle Lujan Grisham’s desk, where she is expected to sign it.

After the end of the regular legislature, the New Mexico House and the Senate met for a special session to finalize the cannabis legalization agreement at the request of the governor.

Michelle Lujan Grisham, Governor of New Mexico

The Cannabis Regulatory Act (SB2 / HB2) decriminalizes possession by adults over the age of 21 and sets a legal framework for licensing, commercial production and sale by April 1, 2022 (one year from now).

Governor Grisham is expected to sign the bill. If it does, it will be the 17th state to legalize adult cannabis after New York legalized it yesterday.

According to AP News, the New Mexico bill gives the governor’s office a lot of power in licensing the industry and “overseeing shipments.” This includes the authority to appoint a Superintendent of the Regulatory and Licensing Department to oversee the regulations in the new market.

The Cannabis Regulatory Act provides a 12% excise tax on adult sales, which increases to 18% over time, on top of “current gross income from sales between 5% and 9%”. The bill also removes taxes on medical sales.

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