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On March 31, 2021, legislators in New Mexico reached an settlement on SB2/HB2, a invoice that legalizes grownup use hashish. The invoice now heads to Governor Michelle Lujan Grisham’s desk, the place she is predicted to signal it.
Following the conclusion of the common legislative session, the New Mexico Home and Senate reconvened for a particular session to finalize the hashish legalization deal on the governor’s request.
The Hashish Regulation Act (SB2/HB2) decriminalizes possession for adults over 21 and units up a regulatory framework for licensing, business manufacturing and gross sales by April 1, 2022 (a 12 months from now).
Governor Grisham is predicted to signal the invoice, and when she does, will grow to be the 17th state to legalize grownup use hashish, following New York that legalized it yesterday.
In keeping with AP Information, the New Mexico invoice offers the governor’s workplace quite a lot of energy in licensing the business and “monitoring provides.” That features the facility to nominate a superintendent of the Regulation and Licensing Division, which is answerable for regulatory oversight within the new market.
The Hashish Regulation Act units up an excise tax on grownup use gross sales of 12% that rises to 18% over time, along with the “present gross receipts on gross sales that vary from 5% to 9%.” The invoice additionally removes taxes on medical gross sales.
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