fbpx
QQQ
-5.06
314.22
-1.64%
DIA
-3.32
316.29
-1.06%
SPY
-4.68
386.08
-1.23%
TLT
-0.90
140.44
-0.64%
GLD
-1.56
162.19
-0.97%

Mexican Senate Committees Release Marijuana Legalization Bill

October 21, 2019 1:18 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Mexican Senate Committees Release Marijuana Legalization Bill

Mexican Senate committees released marijuana legalization legislation on Thursday, according to Marijuana Moment.

The bill needs approval by the end of October to meet a Supreme Court deadline. 

The country’s ban on adult-use marijuana has been ruled unconstitutional five times by Mexico’s Supreme Court, which sets a binding precedent.

In the next few days, the committees will formally vote on the legislation, at which point it will reach the full Senate and then the Chamber of Deputies, Marijuana Moment said. 

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

Some of the key elements of the legislation include:

  • Adults 18 and older can consume and possess cannabis, grow up to four plants and buy it from licensed retailers.
  • Cannabis can be consumed only in private places.
  • Infused edibles and beverages can be consumed only by medical cannabis patients.
  • An independent body will be formed that will be in charge of issuing licenses and controlling the rollout of the law.
  • No pesticides are allowed on cannabis plants.
  • Rigorous restrictions would be set for cannabis packaging.
  • Unregistered seeds or plants would be subject to forfeiture.
  • Licensing priority would be given to small farmers, indigenous people and low-income individuals.

Sen. Julio Menchaca Salzar, head of the Senate Justice Committee, said in a tweet that “we are legislating to regulate the illicit market of the #marihuana and decrease the crime incidence linked to the #narcotráfico, promoting peace and security for all Mexicans.”