HB 1363 Summary

• Imposes a $50 per ounce excise tax on marijuana sold or transferred from cultivation facilities to retail stores or manufacturing facilities

• Requires annual inflation adjustments to the excise tax rate beginning in 2023, calculated using the Consumer Price Index and rounded to the nearest penny

• Allows counties and municipalities to establish additional excise taxes on marijuana sales, capped at 15 percent of the sale price

• Requires marijuana cultivation facilities to file monthly tax returns and maintain complete records; authorizes license revocation for failure to pay taxes

• Directs 15 percent of excise tax revenues to the Alcoholic Beverage, Marijuana, and Tobacco Trust Fund and the remaining 85 percent to the Child Care Trust Fund, with annual reporting required

• Establishes application fees not to exceed $5,000 for marijuana establishment licenses and a $75 processing fee for cannabis expunction certificates