MS SB2765

Authorizes medical cannabis use for qualifying patients with debilitating conditions including cancer, Parkinson's disease, PTSD, epilepsy, chronic pain, and other specified illnesses, allowing possession of up to 2.5 ounces per 14-day period

Establishes a licensing framework with the Department of Agriculture and Commerce overseeing cultivation-processing facilities ($15,000 application fee, $8,000 annual renewal) and dispensaries ($5,000 application fee, $2,500 annual renewal), requiring at least 60% Mississippi resident ownership and at least one minority owner

Imposes a 7% retail sales tax and 4% excise tax on medical cannabis products, with revenue (after municipal diversions) deposited into the Workforce and College Opportunity Scholarship Fund for early learning collaboratives, dual enrollment programs, and community college/university scholarships

Requires dispensaries to be located at least 1,500 feet from schools, churches, and daycares, and prohibits local governments from banning dispensaries or imposing local cannabis taxes

Takes effect only if Initiative 65 of 2020 is enjoined or ruled invalid, and automatically repeals three years after its effective date