Bill > HB160

This bill, titled the "Cannabis Revenue and Freedom Act," aims to legalize and regulate the production, processing, and sale of marijuana for adults 21 and older in New Mexico, while also establishing regulations for industrial hemp. The act seeks to address issues arising from marijuana prohibition, redirect law enforcement resources, and prevent illegal activities associated with marijuana. It outlines definitions for various terms related to cannabis, establishes licensing requirements for producers, processors, wholesalers, and retailers, and sets forth rules for consumer sales, including age verification. The bill also details tax provisions, with a tax imposed on marijuana producers, and outlines the distribution of tax revenue to various state funds and local entities. Furthermore, it amends existing laws to clarify that certain controlled substance regulations do not apply to activities conducted in compliance with the Cannabis Revenue and Freedom Act, and it makes adjustments to definitions and penalties within those laws to accommodate the legalization of marijuana. The act also includes provisions for homegrown marijuana, limitations on its possession and transfer, and restrictions on public use and possession in certain facilities.