Legislator files pre-bill to legalize marijuana

New Mexico State Senator Ortiz y Pino pre-filed Senate Joint Resolution 10 Friday proposing to amend New Mexico’s constitution to tax and regulate marijuana for adult use. 

SJR10 would allow for the possession and personal use of marijuana by persons 21 years of age and older and for the regulation of the production, sale and taxation of marijuana in New Mexico.

 If SJR10 passes, both the House and the Senate, the amendment will be placed on the November 2014 general election ballot for the voters to decide. 

Harvard University professor of economics Jeffrey Miron concluded that New Mexico could bring in between $19 – $20.82 million annually in marijuana tax revenues alone and by ending marijuana prohibition, the state of New Mexico could save over $33 million on police, courts and corrections costs of enforcing existing marijuana laws.

Legislator files pre-bill to legalize marijuana