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Tuesday, Jun 6, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Colorado governor signs bill regulating psychedelics

The Natural Medicine Health act will take effect on July 1

Colorado governor signs bill regulating psychedelics.jpg
Photo by Natalia Buendia Calvillo via Optimi Health.

Colorado Governor Jared Polis has signed a bill imposing a regulatory framework for classical psychedelics that was passed by voters last year.

Senate Bill 23-290 or the Natural Medicine Regulation And Legalization bill comes after Proposition 122 passed by Colorado voters last November. It inaugurates the Natural Medicine Health Act, which allows the cultivation, use and sharing of psilocybin, DMT, ibogaine and mescaline.

However, retail operations are prohibited with the exception of healing centers which will provide the substances, counselling and education on medical psychedelics. At first only psilocybin and psilocin will be approved at healing centers but the law allows other substances to be added in the future.

Under the law, Coloradans can possess unlimited amounts of DMT, mescaline, ibogaine or psilocybin but if someone uses psychedelics in public, they can be fined up to US$100 and be required to do public service for up to 24 hours.

If someone grows them, they must do it on their own property and follow safety rules or they can be fined up to $1,000. Preparing products with psychedelics using dangerous substances without a license, it’s a serious crime. However, use and home cultivation without selling them are allowed without any limits.

It’s still illegal to share it with someone who might use it for illegal purposes.

If a person under 21 is found to possess or be under the influence of psychedelics then they are subject to a fine of $100 and a maximum of 4 hours of substance use education. Repeat offenders must do 24 hours of “useful public service”.

Read more: Colorado votes to decriminalize use and possession of natural psychedelics

Read more: New York legislators introduce bill to legalize natural psychedelics

The bill mandates the director of the division of professions and occupations to regulate facilitators and their licenses, regulate their practice and enforce the act. It also establishes a natural medicine advisory board responsible for examining issues related to natural medicine and products.

It creates a division of natural medicine within the department of revenue to oversee licensing regulations.

At first, the proposition will only create regulations around psilocybin but beginning in June 2026 the Colorado Department of Regulatory Agencies could expand the policy change and add DMT, ibogaine and mescaline. The tiered legal framework strategy is to give enough time to develop appropriate legal structures as legalization is rolled out.

The bill was sponsored by Sen. Steven Fenberg and Rep. Judy Amabile and will take effect on July 1.


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