A. The “cannabis regulation fund” is created in the state treasury. The fund consists of appropriations, gifts, grants, donations and fees collected by the division pursuant to the Cannabis Regulation Act and the medical cannabis program administered by the division. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall revert to the general fund.
B. Money in the cannabis regulation fund is subject to appropriation by the legislature to fund the division, the department of health, the department of environment, the New Mexico department of agriculture, the taxation and revenue department and the department of public safety for the purposes of carrying out the provisions of the Cannabis Regulation Act and the Lynn and Erin Compassionate Use Act [Chapter 26, Article 2B NMSA 1978].
History: Laws 2021 (1st S.S.), ch. 4, § 39.
ANNOTATIONS
Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 29, 2021, 90 days after adjournment of the legislature.
Temporary provisions. — Laws 2021 (1st S.S.), ch. 4, § 70 provided:
A. On June 29, 2021, all functions, personnel, money, appropriations, records, furniture, equipment and other property of the department of health’s medical cannabis program that are not part of the department’s medical cannabis registry powers and duties shall be transferred to the regulation and licensing department.
B. On June 29, 2021, all contractual obligations and other agreements of the department of health as they pertain to the department’s medical cannabis program that are not part of the department’s medical cannabis registry powers and duties are binding on the regulation and licensing department.
C. Statutory references to the department of health that pertain to the department’s medical cannabis program that are not part of the department’s medical cannabis registry powers and duties shall be deemed to be references to the cannabis control division of the regulation and licensing department.
D. On June 29, 2021, any unexpended or unencumbered balance in the medical cannabis fund is transferred to the cannabis regulation fund.
E. Except to the extent any administrative rules are inconsistent with the provisions of this act, any administrative rules adopted by an officer, agency or other entity whose responsibilities have been transferred pursuant to the provisions of this act to another officer, agency or other entity remain in force until amended by the officer, agency or other entity to which the responsibility for the adoption of the rules has been transferred. To the extent any administrative rules are inconsistent with the provisions of this act, such rules are null and void.