During a joint hearing last week, several committees of the Mexican Senate provisionally approved a modified bill to legalize cannabis; a formal vote is scheduled for the coming week. The bill, which had been circulated in provisional form and was revised before the meetings, aims at establishing a controlled marijuana sector in Mexico.
Additionally, adults aged 18 years and above would be allowed to grow up to four plants of cannabis for personal consumption as well as buy and possess a maximum of 28 grams of cannabis. The panels voted to waive an earlier version of the bill, which had been advanced by lawmakers on the Senate’s United Commissions of Justice, Health and Legislative Studies, during the last week’s session.
Eduardo Ramirez, Senate president, stated that there’s general agreement to actualize the reform before the date mandated by the court. Therefore, a Senate vote should be expected soon. This is despite advocates hoping for more revisions to be made that ensure social equity and consumers’ rights in the newly created marijuana market. The existing deadline to pass this law remains Dec. 15, 2020.
On a separate note, a marijuana advocacy group voiced concerns about some provisions it considers to be extremely restrictive. An example is the limitations on the cultivation of marijuana outdoors. The legislation, however, attempts to reduce how much influence huge cannabis corporations wield. For instance, the legislation stipulates that within the initial five years after the legal market is launched, a minimum of 40% of marijuana licenses have to be awarded to applicants from historically marginalized, low-income and/or indigenous communities. The issuance of licenses as well as the regulation of the cannabis market would be performed by the Mexican Institute of Cannabis.
In addition to this, consuming cannabis publically will be permitted, with the exception of large gatherings at which individuals under the age of 18 years can be exposed and places where the use of tobacco is prohibited.
Furthermore, the proposed legislation states that people shouldn’t consume marijuana in homes in which underage individuals reside or are present. The possession of marijuana exceeding 28 grams yet less than 200g would not be punishable by jail time and would instead be considered a violation punishable by a fine.
If the Senate signs off on the cannabis legalization bill, the legislation would then be advanced to the Chamber of Deputies.
While legislators work to complete the marijuana reform legislation, there’s been a wave of lighthearted pushes to center attention on this matter by activists and members. This has mostly taken the form of gifting and planting marijuana.
For example, earlier in September, Interior Ministry Secretary Olga Sánchez Cordero, was offered a marijuana plant as a gift by Emilio Álvarez Icaza, a Senator, during a Senate floor discussion. She said she’d make it one of the plants in her own personal garden.
One player in the marijuana sector that you should watch is Pure Extracts Technologies Corp. (CSE: PULL). This company is a plant compound extraction company making its own products and also providing extracts for numerous licensed cannabis producers in Canada and abroad.
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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