Bill > SB13

This bill, the Cannabis Regulation Act, establishes a new cannabis regulation division within the regulation and licensing department to regulate and administer commercial cannabis activity and the medical cannabis program. It sets up a cannabis policy and regulatory advisory committee to advise the division on rulemaking, and creates a cannabis regulation fund to fund the division's activities and those of other state agencies involved in cannabis regulation. The bill also requires the department of health to establish a medical cannabis assistance program to provide medical cannabis or financial assistance to certain qualified patients. Additionally, the bill imposes a 20% cannabis sales tax, with 13% going to the state and 7% to local governments, and it directs the department of taxation and revenue to distribute a portion of the tax revenue to municipalities and counties. The bill also outlines personal use, production, and sales provisions, as well as penalties for violations. Overall, this bill comprehensively regulates and taxes the commercial cannabis industry in New Mexico while maintaining the medical cannabis program.

Budget and Finance

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=13&year=21