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AR HB1369
Bill
Status
3/28/2017
Primary Sponsor
Douglas House
Click for details
AI Summary
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Establishes that all state sales tax revenues from medical marijuana sales are designated as special revenue and deposited into the Arkansas Medical Marijuana Implementation and Operations Fund.
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Distributes remaining funds after state agency expenses as follows: 5% to Department of Health, 2% each to Alcoholic Beverage Control Administration and Enforcement divisions, 1% to Medical Marijuana Commission Fund, 10% to Skills Development Fund, 50% to Vocational and Technical Training Special Revenue Fund, and 30% to General Revenue Fund.
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Creates two new special revenue funds: the Arkansas Medical Marijuana Implementation and Operations Fund and the Medical Marijuana Commission Fund, with both established on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer.
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Requires state agencies to submit annual reports by May 1 identifying projected expenses related to medical marijuana implementation, with the Chief Fiscal Officer transferring funds proportionally to cover agency costs.
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Directs the General Assembly to review the distribution of medical marijuana proceeds during the 2019 legislative session and consider redirecting portions of the proceeds to workforce education within the state.
Legislative Description
To Amend The Arkansas Medical Marijuana Amendment Of 2016 Regarding The Taxation And Distribution Of Proceeds; And To Create Various Funds For The Implementation Of The Arkansas Medical Marijuana Amendment Of 2016.
Last Action
Notification that HB1369 is now Act 670
3/28/2017