OH HB495

Changes the director of commerce requirement from "may" to "shall" adopt rules establishing a closed-loop payment processing system for medical marijuana entities, patients, and caregivers.

Requires medical marijuana entities to deposit non-sales revenue into authorized financial institutions and use closed-loop debit cards for all financial transactions.

Requires registered patients and caregivers to deposit money into authorized financial institutions and use closed-loop cards to purchase medical marijuana at licensed dispensaries.

Designates the department of commerce (replacing the state board of pharmacy) as the agency with oversight access to system records, along with state and federal law enforcement agencies and the U.S. Treasury's financial crimes enforcement network.

Establishes system purposes including preventing revenue diversion to criminal enterprises, preventing interstate marijuana diversion, blocking distribution to minors, and preventing use as cover for illegal drug trafficking.