LINE? STELLA: THAT’S RIGHT, SHELLY AND DOUG. Some say this gives these licensees an edge over those trying to get into the industry. I spoke to the COO of this medical pharmacy behind me who says otherwise [SINGING] KALYN: – STELLA: HOUSE FLOOR MAJORITY LEADER SINGS CELEBRATORY HOUSE BILL 12 PASSING. HOUSE BILL 12 WOULD LEGAL THE USE OF CANNABIS FOR THESE 21 OR OLDER. IN ITS CURRENT FORM, THE INVOICE WOULD RENEW MARIJUANA SELLER LICENSES FOR THIS ALREADY IN THE MEDICAL MARIJUANA INDUSTRY. SOME CAUTIONS ALLOW THE PRESENTLY SET TO START AN INFavorable HEAD AND DOMINATE THE CANNABIS INDUSTRY. >> It was about 18 months from the time we got our license to the time we sold CANNABIS in our stores. STELLA: BUT TRISHELLE KIRK WITH EVEREST APOTHECARY SAYS A CANNABIS BUSINESS GROWING HAPPEN BECAUSE MEDICAL MARIJUANA DISPENSES HAVE ALREADY PASSED THE REGULATORY HURDLES. >> IF ADULTS USE PASSPORT THAT WILL BE HOPEFUL THIS YEAR, THERE IS AN OPPORTUNITY FOR OTHER PEOPLE TO ENTER THE INDUSTRY AND I THINK THIS IS EXTREMELY EXCITING. STELLA: THE CURRENT FORM OF INVOICE WOULD ADD AN 8% TAX ON RECREATIONAL CAN-SALE. CITIES AND COUNTRIES MAY ALSO ADD ANOTHER 4% LOCAL TAXES. DEMOCRATS BELIEVE THAT ADULTS CANNABIS WILL BENEFIT THE STATE. >> LEGAL CANNABIS WILL CREATE A DIFFERENT REVENUE STREAM FOR OUR STATE, AND IT’S A PLAN YOU HAVE ALREADY SEEN SUCCESSFULLY IN OUR NEIGHBORING STATES OF COLORADO. STELLA: THE IMPORTANCE OF SOME REPUBLICANS THINKING THAT THEIR CAN LEGALIZE MARIJUANA WILL CREATE MORE PROBLEMS. >> IF YOU ARE TALKING TO THE PEOPLE IN RATON AND THESE CITIES ARE ON THE NORTHERN BORDER, YOU MUST VERY CLOSE THE ISSUES OF DRUG LEGALITY. STELLA: THE BILL IS NOW GOING TO THE SENATE. IF THIS INVOICE IS CORRECT, THE RECREATIONAL SALE OF MARIJUANA CAN BEGIN IN JANUARY. LIVE IN REPORTING. – IN ALBUQUERQUE, STELLA SUN, KOAT ACTION 7 NEWS. DOUG: A RECREATIONAL MARIJU
Marijuana recreational bill passes the house
The bill will now be forwarded to the Senate for review
Updated: 10:39 PM MST February 26, 2021
Legislation introducing the legal and regulated use and sale of cannabis in New Mexico was passed with 39 votes to 31 on Friday evening. It is now being heard in the Senate. HB 12: The Cannabis Regulation Act legalizes and regulates the use, manufacture and sale of cannabis and cannabis products for adults aged 21 and over. The bill introduces a responsible, strictly regulated system that imposes an 8% excise tax on all cannabis sales and sets guidelines for licensing that prioritize diversity and equality of opportunity. Democrats who backed the bill said, “We have an opportunity to establish this new industry with a framework that emphasizes equity, diversity and public safety. It is time to move on.” Economic projections suggest recreational cannabis sales in New Mexico could be this high overall in the first year alone, up $ 318 million, creating over 11,000 new jobs. Estimated tax revenue is projected to be $ 28.6 million for the first year and stabilize at $ 50 million per year.
SANTA FE, NM –
Legislation introducing the legal and regulated use and sale of cannabis in New Mexico was passed with 39 votes to 31 on Friday evening. It is now being heard in the Senate.
HB 12: The Cannabis Regulation Act legalizes and regulates the use, manufacture and sale of cannabis and cannabis products for adults aged 21 and over. The bill introduces a responsible, strictly regulated system that imposes an 8% excise tax on all cannabis sales and sets guidelines for licensing that prioritize diversity and equality of opportunity.
Democrats who supported the bill said, “We have an opportunity to establish this new industry with a framework that emphasizes equity, diversity and public safety. It is time to move on.”
Economic forecasts suggest that recreational cannabis sales in New Mexico could reach $ 318 million in the first year alone, creating over 11,000 new jobs. Estimated tax revenue is projected to be $ 28.6 million for the first year and stabilize at $ 50 million per year.