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LA HB235
Bill
Status
4/1/2025
Primary Sponsor
Michael Echols
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AI Summary
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Increases the excise tax on consumable hemp products from 3% to 20% of the retail sales price, effective July 1, 2025
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Creates the Consumable Hemp Testing and Regulation Fund as a new special fund in the state treasury to support university-affiliated laboratory testing operations or Louisiana Department of Health regulatory activities
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Redistributes tax revenues across four funds: 15% to Louisiana Early Childhood Education Fund, 30% to Criminal Justice and First Responder Fund, 30% to Drug Abuse Education and Treatment Dedicated Fund Account, and 25% to the new Consumable Hemp Testing and Regulation Fund
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Previously, 100% of consumable hemp excise tax revenues went solely to the Early Childhood Education Fund
Legislative Description
Increases the excise tax levied on consumable hemp products and dedicates revenues collected from the tax (OR +$5,100,000 SD RV See Note)
TAX/EXCISE
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
4/14/2025