New Mexico Senate Committee Advances Medical Psilocybin Legislation

1.3 min readPublished On: March 12th, 2025By

LOS ANGELES- The New Mexico Senate Judiciary Committee has approved Senate Bill 219, known as the Medical Psilocybin Act, which proposes the establishment of a regulated program for the therapeutic use of psilocybin. This approval marks the bill’s progression through its third Senate committee.

Introduced by a bipartisan group of legislators, including Senators Jeff Steinborn (D) and Craig Brandt (R), the bill aims to provide psilocybin-assisted therapy for patients with qualifying medical conditions such as major treatment-resistant depression, post-traumatic stress disorder (PTSD), substance use disorders, and end-of-life care. The Department of Health would oversee the program, establishing guidelines for clinician training, dosage, approved administration settings, and safety protocols.

The proposed legislation also includes the creation of a nine-member advisory board to recommend additional qualifying conditions and review petitions for expanding the program’s scope. Additionally, two funds are proposed: a Medical Psilocybin Treatment Equity Fund to assist patients meeting income requirements and a Medical Psilocybin Research Fund to support studies on psilocybin’s medical applications.

During the committee’s review, amendments were adopted to clarify legal protections for service providers and to adjust appropriation amounts, with funding considerations to be addressed in separate legislation. The bill now proceeds to the Senate Finance Committee for further consideration.

If enacted, New Mexico would join states like Oregon and Colorado in implementing regulated programs for the medical use of psilocybin. The bill’s sponsors emphasize the potential benefits of psilocybin therapy for individuals not responding to traditional treatments, highlighting the importance of providing alternative options under medical supervision.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

Share This Story, Choose Your Platform!