MJ Biz reports on what took a while and is now turning over very quickly . NY seems to be setting off a chain of events around the country.
New Mexico lawmakers approve potential $350 million recreational marijuana market
New Mexico lawmakers on Wednesday night passed a recreational marijuana bill that provides licensing opportunities for small businesses and individuals from communities disproportionately harmed by the war on drugs.
Retail sales are to start no later than April 1, 2022.
Marijuana Business Daily projects that an adult-use market in New Mexico will generate $125 million in sales the first full year and $350 million annually by the fourth year.
The House passed the bill by a vote of 38 to 32 on Wednesday afternoon as part of a two-day special session.
The Senate then passed an amended bill by a margin of 22 to 15 later that night. The House concurred with the Senate amendments.
Gov. Michelle Lujan Grisham is expected to sign the bill.