The bill gives the governor a strong hand in oversight
The governor, a Democrat, has supported marijuana reform as a way to create jobs and shore up state revenue.
Her office in an advisory said she was scheduling a bill signing ceremony and news conference for later in the day.
New Mexico voters ousted ardent opponents of legalization from the state Senate in the 2020 Democratic primary, opening the way for legalization of recreational marijuana.
The governor called a special legislative session to tackle the issue in late March after legalization efforts faltered.
Legislators rallied behind a legalization framework from state Rep. Javier Martinez of Albuquerque that provides automated procedures for expunging past pot convictions.
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