New Jersey Senate Committee Advances Therapeutic Psilocybin Bill

1.4 min readPublished On: October 8th, 2024By

LOS ANGELES- The New Jersey Senate Budget and Appropriations Committee has approved Senate Bill 2283, advancing legislation to legalize the therapeutic use of psilocybin for medical purposes. The bill, sponsored by Senate President Nick Scutari (D), comes after months of deliberation and amendments that shifted the focus from adult recreational use to strictly medical applications.

The bill, if enacted, would allow individuals with qualifying medical conditions, as determined by a licensed health care professional, to use psilocybin under a regulated system. The New Jersey Department of Health would oversee the production and distribution process, granting licenses for five specific sectors: testing laboratories, manufacturers, facilitators, service centers, and psilocybin workers.

The legislation also establishes a Psilocybin Advisory Board to define qualifying conditions and regulate service centers. Proponents of the bill, including medical professionals and individuals who have experienced relief from severe conditions like cluster headaches, provided testimony in favor of the therapeutic potential of psilocybin during the committee hearings.

While a previous version of the bill included provisions for adult personal use and possession, the amended version focuses solely on medical access, a shift that gained support from several legislators who were initially hesitant. Sen. Michael L. Testa Jr. (R) noted his approval of the medical focus, while Sen. Paul A. Sarlo (D) emphasized the bill’s non-recreational intent.

Polling from Stockton University shows that 55% of New Jersey residents support medical psilocybin use, with only 20% opposed. The bill now moves forward to the full Senate for further consideration.

In related developments, New Jersey lawmakers have also introduced a proposal to allow individuals to self-exclude from cannabis retailers, similar to laws in place for casino gamblers, and the hemp industry is challenging state restrictions on hemp-derived products.

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.

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