House Bill 356, a bill to legalize recreational marijuana in New Mexico, was recently introduced in the State Legislature. If passed, the bill would allow adults 21 years and older possess and consume marijuana obtained from state-licensed businesses. The new law would also allow for personal production licenses to permit an individual to grow up to six plants for personal use.
The bill cleared its first committee on February 9, 2019 with a 5-2 vote. It will need to face several committees and gain approval from both legislative chambers before going before the Governor’s desk for final approval.
New Mexico Marijuana Business Opportunities
If passed, the bill will establish a state-regulated dispensing system of licensed marijuana businesses. A Cannabis Control Division (Division) will be established within the Regulation and Licensing Department to license the following marijuana businesses:
Cannabis Producer – a person that is licensed by the division to produce cannabis; package cannabis products; have cannabis products tested by a cannabis testing laboratory; and sell and transport cannabis products to other cannabis establishments
Cannabis Manufacturer – a person that is licensed by the division to manufacture cannabis products, package, transport or courier cannabis products; have cannabis products tested by a cannabis testing laboratory; sell and transport cannabis products to other cannabis establishments
Cannabis Retailer – means a person that is licensed by the division to sell and courier cannabis products to a consumer in this state
Cannabis Courier – a person who is licensed by the division only to transport usable cannabis and cannabis products directly to consumers
Cannabis Microbusiness – a person that employs fewer than nine people, collects no more than two million dollars ($2,000,000) in annual revenue and is licensed by the division to produce up to ninety-nine mature cannabis plants; manufacture cannabis extracts using nonvolatile solvents or no solvents; be a cannabis retailer; sell, transport or courier the cannabis products to other cannabis establishments and to consumers; or engage in any other activity authorized by the division
Cannabis Testing Laboratory – means a facility that is licensed by the division to collect, transport and test cannabis products to analyze the strength or purity of the products
The Division will be tasked with drafting the rules and regulations necessary to license and govern marijuana businesses by July 1, 2020. Application and license fees are to be determined.
Begin Preparing for New Mexico Marijuana Business License Applications
If you want to open a marijuana business in New Mexico, it’s best to start preparing now to get ahead of the game. Begin educating yourself on all that will be involved in an application process to obtain a marijuana business license with our New Mexico Marijuana Business Starter Package. The package includes:
- An Informational Overview of New Mexico’s marijuana laws
- An Application Guide & Checklist for a detailed summary and checklist of over 100 action items you'll need to complete before submitting your application
- A Business Plan Template to help you draft an executive summary for your business
- A Financial Plan Template to give you and your investors a comprehensive 3-year projection of what to expect when operating a medical marijuana business