House Bill 474 - Mississippi Retail Marijuana Code

• Creates the Mississippi Retail Marijuana Code establishing a state licensing system under the Commissioner of Revenue for retail marijuana cultivation facilities, stores, product manufacturers, testing facilities, transporters, and operators, with applications beginning January 1, 2019.

• Establishes the Marijuana Cash Fund in the State Treasury to receive license fees ($5,000 application fee with $2,500 going to state and $2,500 to local jurisdiction) and other revenues collected by the licensing authority for implementation costs.

• Authorizes counties and municipalities to prohibit, restrict, or impose local licensing requirements on retail marijuana establishments; state licenses are conditioned on local jurisdiction approval and expire within one year if local approval is not obtained.

• Defines seven classes of licenses including retail stores (limit one ounce per transaction), cultivation facilities, product manufacturers, testing facilities, transporters, business operators, and occupational licenses; prohibits publicly traded companies and requires criminal background checks.

• Imposes 7% sales tax on retail marijuana sales at wholesale and retail levels, establishes seed-to-sale tracking system, requires testing for contaminants and potency, mandates child-resistant packaging, and prohibits sales to persons under 21 years old.