AR HB2239

Amends Arkansas Constitution Amendment 98 to redirect medical marijuana sales tax revenues, creating the Arkansas Medical Marijuana Implementation and Operations Fund to cover state agency expenses related to the amendment, with remaining funds distributed to education and workforce development programs.

Establishes the General Assembly Promise Scholarship Program providing up to $100 annually to accounts for each child born in Arkansas after January 1, 2018, whose parent opts in, with funds usable for in-state college tuition until age 22.

Allocates 2.5% of remaining medical marijuana tax revenues to the General Assembly Promise Scholarship Program Fund and 2.5% to the Arkansas Better Chance Program, while increasing the General Revenue Fund allocation from 30% to 35%.

Creates three new special revenue funds: the Medical Marijuana Commission Fund, the Arkansas Medical Marijuana Implementation and Operations Fund, and the General Assembly Promise Scholarship Program Fund, effective by July 1, 2017.

Requires the Treasurer of State to administer the scholarship program, accept gifts and donations, and report annually to legislative education committees on program operations and financial condition.