Will New Mexico Legalize Cannabis?
In 2007, New Mexico legalized medical cannabis for qualifying patients. This year, a bill was introduced to legalize cannabis for recreational use within the state.
House Bill 312, otherwise known as the Cannabis Taxation & Regulation Act, would legalize cannabis for adult use and establish a state-regulated system for the production and sale of cannabis. The bill is currently in the House, with no assigned meeting or hearing in the near future.
To urge your lawmakers to support HB 312 and work towards the taxation and regulation of cannabis, click here.
Potential Opportunity for Cannabis Businesses
In the event that HB 312 passes legislation, a new opportunity would arise for cannabis businesses. Through a competitive state application process, licenses would be awarded for the following:
- Cannabis Producer – produce (cultivate) cannabis
- Cannabis Manufacturer – produce cannabis; manufacture cannabis items; package, transport, and sell cannabis items to other cannabis establishments
- Cannabis Courier – transport usable cannabis and cannabis items directly to consumers
- Cannabis Testing Laboratory – perform tests of cannabis items to analyze the strength or purity of the items
- Cannabis Retailer – sell and courier cannabis items to a consumer in the state
- Cannabis Microbusiness – produce cannabis in an area that is less than 10,000 square feet; manufacture cannabis items; package, transport, and sell cannabis items to other cannabis establishments and to consumers
- Cannabis Nursery – produce only clones of cannabis plants, immature plants, seeds and other agricultural products used for the cultivation of cannabis
The number of licenses to be awarded for each marijuana establishment would be determined by a new division created by the bill, the Division of Cannabis Control, of the Regulation and Licensing Department.
Interested in Applying for a Cannabis Business License in New Mexico?
It’s never too early to start preparing for the application process to obtain a cannabis business license. In the event that HB 312 passes legislation, you’ll want to be ahead of the game. Download our Application Guide & Checklist for a detailed summary and checklist of all items you’ll need to complete before submitting your application.
Or, if you’d rather speak with an industry expert first, schedule an hour consultation to ask questions, discuss concerns, and receive guidance on best next steps.