New Mexico Cannabis Business Licenses
WHAT IS NEW MEXICO'S CURRENT CANNABIS MARKET STATUS?
In April 2007, New Mexico Governor Bill Richardson signed the Lynn and Erin Compassionate Use Act into law allowing marijuana for medicinal purposes to qualified patients. Originally starting with a small list of only eight qualifying conditions, the state has expanded to include twenty eights conditions to be eligible for medical marijuana. Standing out among the list is the addition of an autism spectrum diagnosis which is currently only recognized in 17 of the 33 medical cannabis states.
With only 34 licensed producers within the state, New Mexico reached $129 million in sales for the year in 2019 as patient registration grew from 67,574 to 80,257.
WHAT ARE NEW MEXICO'S CANNABIS LAWS?
Medical cannabis is legal in New Mexico under the Lynn and Erin Compassionate Use Act that was signed into law in April 2007. Twenty eight medical conditions qualify patients to register for use of medical cannabis allowing them to purchase from a New Mexico Dispensary and possess up to six ounces with the possibility of a higher limit with a letter of special need from a certifying physician. Patients are also permitted to grow up to 4 mature plants and have 12 seedlings.
Most recently, New Mexico joined the many states establishing criminal reformations by decriminalizing cannabis in 2019 when Governor Grisham signed Senate Bill 323 into law. Under this law, a first time possession offense is punishable by a $50 fine and is considered a petty misdemeanor. SB 323 also made New Mexico the first state to decriminalize the possession of drug paraphernalia.
WHAT IS NEW MEXICO'S CANNABIS LICENSING TIMELINE & CANNABIS APPLICATION PROCESS?
The application process is currently closed in New Mexico but there’s always merit in familiarizing yourself with the previous application round to better prepare for when applications are being accepted again. Point7 has the knowledge and background to help you understand the complicated cannabis application process and create a business plan that allows you to be ready immediately when the time comes.
WHAT IS THE HISTORY OF CANNABIS IN NEW MEXICO?
New Mexico was a pioneer in the U.S. for legalizing some forms of medical cannabis in 1978 under the Controlled Substances Therapeutic Research Act. This bill was supported by a research program leg by the Food and Drug Administration and cannabis was to be supplied by the National Institute on Drug Abuse. Lynn Pierson was a catalyst in getting this bill passed, as he found medical cannabis extremely helpful in relieving his cancer-related pain. After the bill passed, by 1986 250 cancer patients received cannabis through the Lynn Pierson Therapeutic Research Program, named after him after his death. Governor Gary Johnson endorsed the legalization of cannabis in 1999, which was not received well by his fellow republican lawmakers and politicians. In 2007, the Lynn and Erin Compassionate Use Act was signed into law by Governor Bill Richardson. Initially the list of qualifying illnesses and ailments was small but continued to grow bigger as years went on.
In March of 2019, the House and Representatives passed a recreational legalization bill but Governor Michelle Lujan Grisham pushed the issue to the legislative agenda for the next year. The following month, Gov. Lujan Grisham signed a law that lowered punishments for possession of cannabis charges to a $50 dollar fine and became the first state to completely decriminalize possession of drug paraphernalia. The Governor continued to take steps towards legalization, she formed the Cannabis Legalization Working Group who was tasked with determining plans for legalization in 2020. A legalization bill did get presented to New Mexico lawmakers but did end up failing. Gov. Michelle Lujan Grisham is planning to revisit the issue in 2021.
DOES NEW MEXICO HAVE A HEMP PROGRAM?
ARE YOU PREPARING FOR THE NEW MEXICO CANNABIS MARKET?
The future of cannabis looks promising in New Mexico. With medical cannabis being legal, and recreational legalization right around the corner in 2021, it’s never too early to start developing a cannabis business plan and strategy. Contact Point7 today to discuss our products and service packages available to make the application process and post licensure operations seamless.