A bill that was recently introduced in Maine will legalize psilocybin’s therapeutic use and establish a licensed industry for the drug. Psilocybin is the main active compound found in magic mushrooms.
Introduced by State Sen. Donna Bailey, the Maine Psilocybin Services Act will permit individuals aged 21 and above to legally buy psilocybin products and ingest them under the supervision of psilocybin service providers who are licensed. The measure, whose purpose is to expand the access to psilocybin to help manage depression and anxiety, along with other mental health conditions, cites no specific medical diagnosis that individuals will need in order to be eligible for psilocybin therapy.
The measure is in some ways similar to the legalization initiative that was passed by the state of Oregon during the November 2020 elections, with Bailey noting that the measure was also modeled after the psilocybin measures introduced this year in Hawaii and Florida. The measure also stipulates that licenses to legally sell and produce psilocybin will be issued to businesses in the state, adding that psilocybin products would be taxed at 15% of the retail sale price.
The bill also notes that the Department of Health and Human Services in the state will be in charge of establishing basic psilocybin therapy rules, which include requirements for licensed psilocybin facilitators, product testing and the personal possession limit. The measure also establishes a psilocybin advisory board made up of state officials and experts whose responsibility will be to make recommendations, guide and advise the department.
Another measure also introduced in Maine will decriminalize all drugs that are currently illegal in the state. This is in addition to imposing a $100 civil fine on individuals who are caught in possession of controlled substances, instead of punishing them with jail time and other criminal charges. If the individual is subjected to a health evaluation that may result in a referral for substance use disorder treatment, the fine may be waived.
The bill, which was introduced by Rep. Anne Perry its lead sponsor, is scheduled for a committee hearing this week. In related news, a measure introduced by legislators from Connecticut, which suggested the creation of a task force that will study psilocybin’s medical benefits, has yet to advance since its introduction in January.
Over in Florida, another measure that was introduced in January and also modeled after Oregon’s initiative has yet to be approved by legislators in the state.
The passing of laws allowing psilocybin therapy or decriminalizing psychedelic plants paints a promising picture that the drug development work being done by companies such as Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) will be widely embraced by the scientific community and the general public since awareness is growing about the therapeutic potential of different psychedelics.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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