The LA Times summarizes the the benefits of this new legislation:
Mexico City's initiative goes further than any other in Latin America by rewriting the law to redefine marriage as a "free union between two people," not only between a man and a woman. It gives homosexual couples the same rights as heterosexual pairs, including the right to adopt, inherit, obtain joint housing loans and share insurance policies.Mayor Marcelo Ebrard is expected to sign it into law.
But there is a snag, unfortunately. The conservative National Action Party, led by Mexican president Felipe Calderon, plans to challenge the new law in court if Ebrard does not veto it.
Stay tuned for updates as it all unfolds. Meantime, kudos to Mexico City's lawmakers for taking this significant step towards equality.