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.

New Mexico Governor Michelle Lujan Grisham

The Hashish Regulation Act (SB2/HB2) decriminalizes possession for adults over 21 and units up a regulatory framework for licensing, industrial 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 turn out to be the 17th state to legalize grownup use hashish, following New York that legalized it yesterday.

In accordance with AP Information, the New Mexico invoice provides the governor’s workplace a variety of energy in licensing the business and “monitoring supplies.” That features the facility to nominate a superintendent of the Regulation and Licensing Division, which is in command of 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 “current gross receipts on sales that range from 5% to 9%.” The invoice additionally removes taxes on medical gross sales.


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