New Mexico adults will be able to legally use and possess cannabis under a law New Mexico Gov. Michelle Lujan Grisham (D) signed Monday.
- The measure (H.B. 2) will levy a 12% excise tax on cannabis to start. That rate will increase to 18% by 2030 and local governments will receive a share of the tax revenue.
- A new state division will finalize rules for the program by Jan. 1, 2022. Retail sales will start by that April.
- Those 21 and older will be allowed to possess up to two ounces of cannabis in public.
- Lujan Grisham also...