A new bill filed in Mexico’s federal legislature would legalize adult-use cannabis nationwide in an effort to curtail the financial impact of COVID-19 and kickstart a new revenue stream, both for individuals, and the country as a whole.
First reported by Jose Rodrigo at Benzinga, the new bill would allow adults 18 years and older to possess up to 28 grams of weed and to personally cultivate 20 plants yielding 480 grams of bud per year. And unlike the legal weed destinations in the US, the latest Mexican legalization plan would allow public pot consumption anywhere that smoking tobacco is accepted. Additionally, the legislation would create a Mexican Institute of Regulation and Control of Cannabis to oversee the legal market.
“We have this opportunity and we are going to take advantage of it,” Mexican Senator Julio Ramón Menchaca Salaza, who introduced the bill, told Benzinga.
If passed, Senator Salaza’s bill would tax commercial cannabis sales at 12 percent, offering local and federal governments a slice that could quickly turn into millions of much-needed dollars.
Mexico has been on the path towards legalization for some time now, but after missing a legislative deadline late last year, concerns about the economic repercussions of COVID-19 has inspired lawmakers to put the pedal to the metal on financial relief initiatives, including a nationwide legal cannabis industry.
Still, despite the promise of Senator Salaza’s bill, legislators are not planning to pass cannabis legislation until they have discussed the bill in person. And with COVID-19 concerns still keeping most people confined to their homes, it is not quite clear if and when the legalization proposal will finally be subject to a vote.
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