HI HB1474

Establishes the Industrial Hemp Special Fund administered by the Department of Agriculture to receive legislative appropriations, pilot program fees, and investment returns to support the industrial hemp pilot program.

Sets annual industrial hemp production license fees at $250 plus $2 per acre, with collected moneys deposited into the special fund and used to implement and enforce the program.

Requires industrial hemp cultivation to be limited to licensed owners, lessees, or occupiers of lands within the state agricultural land district.

Designates industrial hemp as an agricultural product, use, and activity for county property tax purposes, qualifying the cultivated land for minimum dedication period and assessment at the lowest percentage of fair market value.

Effective date of July 31, 2150.