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Proposal to study marijuana sales in New Mexico

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Legalizing marijuana in New Mexico may be an option for the future after other states have already jumped on board.

The New Mexico House of Representatives approved a measure late Wednesday, which calls for studying the effects of marijuana legalization in Colorado and Washington.

It passed with a 31-28 vote. Under the measure, the Legislative Finance Committee would conduct the study. State revenue and agriculture production levels will specifically be looked at in the study, whose finding would be reported later this year.

The report would also include addiction rates and the availability of law enforcement resources in both states. Legal pot sales began January 1st in Colorado and will begin later this year in Washington.

A budget proposal released Wednesday shows Colorado's legal marijuana market is exceeding tax expectations.

Sales have yet to begin in Washington, but budget forecasters predict nearly $190 million in state funds over four years of sales.

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