New Mexico is working on making the process to get into the cannabis industry more streamlined.
Senate Bill 100 would increase the number of plants producers are allowed to grow and reduce the cost to become licensed. By making it easier for small growers to break into the industry will bring in more revenue for the state, according to KRQE.
“Part of the equity piece is allowing micro-producers to have a license. It makes it really lucrative for them," Rep. Andrea Romero told the station. “That really sets them on a footing for potential growth and truly a competitive market that we’d like them to enter into.”
If the bill passes, micro-producers will be allowed to grow 1,000 plants instead of 200.
“We’re going to continue to learn from this industry as we open it up,” Romero said. “This gives us a chance, thankfully, in this 30-day session.”
The bill also makes it legal for businesses that have an alcohol license to also become licensed to sell marijuana, albeit under a different roof, according to KRQE.
“If you’re an entrepreneur who owns many restaurants or many businesses in a single location, it shouldn’t prohibit you from being able to license both in cannabis and in alcohol if it’s all under your own name,” Romero said. “The whole point of our original legislation was to ensure that it wasn’t commingled. You wouldn’t be able to purchase both things at the same place.”
They are also trying to reduce the barrier of entry by reducing the price of marijuana plants themselves, KRQE reported.
“Hopefully this continues to strengthen the ability for entrepreneurs to get into the business,” Romero said. “And feel very good about how these licenses are being issued.”
