AR SB424

Designates all state sales tax revenues from medical marijuana sales as special revenue deposited in the Arkansas Medical Marijuana Implementation and Operations Fund, with prior revenues immediately transferred upon the section's effective date.

Requires state agencies (Alcoholic Beverage Control Division, Department of Health, Medical Marijuana Commission, and others) to submit annual expense reports to the Chief Fiscal Officer by May 1 each year, with transfers from the Implementation and Operations Fund allocated proportionally to cover their implementation expenses.

Distributes remaining revenues after agency transfers 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 Department of Career Education Public School Fund Account for vocational and technical training, and 40% to General Revenue Fund.

Creates two new special revenue funds: the Arkansas Medical Marijuana Implementation and Operations Fund and the Medical Marijuana Commission Fund, with the General Assembly required to establish the Medical Marijuana Commission Fund by July 1, 2017.

Allows entities receiving grants from medical marijuana sales tax revenues to make successive grant applications for the same projects and amends the Skills Development Fund to include 10% of distributions under the constitutional amendment.