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New Mexico Medical Cannabis Companies Won't Have To Renew Permits This Summer

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NEWS BRIEF NM medical cannabis companies won’t have to renew licenses this summer

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Instead of having to undergo the annual summer license renewal process, New Mexico’s medical cannabis businesses can instead focus on the upcoming licensing process for adult-use permits as the state transitions to a recreational MJ market.

According to the New Mexico Political Report, the grace period for the state’s 34 MMJ companies also comes with a change in state departmental oversight: Since New Mexico legalized medical cannabis in 2007, the industry has been the jurisdiction of the state health department.

But the New Mexico Department of Regulation and Licensing will take over that job as of September, which is why the health department said businesses can hold on to their license renewal forms through the summer.

The Cannabis Control Division, a wing of New Mexico’s Regulation and Licensing Department, is expected to develop rules for the state’s upcoming adult-use marijuana industry by Sept. 1 and begin processing business permit applications immediately after that.

It is expected that existing medical marijuana businesses in the state could begin recreational sales on Oct. 1.

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Source: https://mjbizdaily.com/new-mexico-medical-cannabis-companies-can-forgo-license-renewals-this-summer/

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