If Governor Signs Cannabis Bill, New Mexicans Would Be Able To Possess Two Ounces of Marijuana
Updated: 5 days ago
SANTA FE, N.M. —
If the governor signs the bill to legalize recreational marijuana, New Mexicans will be able to legally possess about two ounces of it – that’s about two small bags worth $650.
"That's a lot of personnel use," said Albuquerque city councilor Pat Davis who was also the chairman of the governor’s council on legalization. As for taxes on the pot, people who buy two ounces will have to pay $120 which’s about 20 percent in taxes and it can go up to four more pennies on the dollar, over the next four years. "It is about on par with what you buy a pint of beer,” Davis said. “There is a lot of that goes to taxes on a federal and state level." Those taxes are estimated to generate more than $30 million a year by 2024 for state and local governments. That helps fund schools and public safety.
But under HB2 that passed during the special session Wednesday, people who have a medical marijuana card, are not going to pay any taxes.
"Your medicine would be cheaper than if you were an adult-use consumer," said Ben Lewenger, executive director of the New Mexico Cannabis Chamber of Commerce. "I would expect to see a bigger diversity of products things like suppositories, things like water-soluble cannabis powder."
People who are anxious to start using recreational marijuana will need to wait. The new law needs to be signed by Gov. Michelle Lujan Grisham and it could take as long as a year for the state to roll it out and legalize it. Lujan Grisham ran on a platform of legalizing recreational cannabis.