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States use tax proceeds in a way that appeals to voters because recreational marijuana is often legalized through a referendum process.
October 30 -
Moves to reschedule marijuana down to a Schedule III drug would lower taxes local cannabis businesses pay.
August 31 -
The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.
April 27 -
The state stands to become the 19th to legalize non-medical use of cannabis and along with it up to $97 million of new tax revenues by fiscal 2026.
June 18 -
Lawmakers could not enact the bill on the final day of the regular session, when House Republicans threatened a filibuster.
June 15 -
New Mexico joins neighboring states Arizona and Colorado in legalizing marijuana sales with an eye toward higher state revenue.
April 20 -
Lawmakers packaged revenue, social justice and market positioning while flexing political muscle when they voted to legalize marijuana.
April 1 -
In their state of the state addresses, the two governors discussed bringing in more revenues.
January 13 -
Eight measures in five states to legalize marijuana and in three states offering tax breaks for veterans received universal approval.
November 13 -
The governor cited budget and social justice benefits from a measure to legalize cannabis, which officials say could bring in $600 million of new revenues.
September 4