TN HB0703

Adults 21 and older may possess up to 60 grams of marijuana (with no more than 15 grams as concentrate), cultivate up to 12 plants at home in a secured area not visible from public places, and transfer marijuana to other adults without payment

Establishes a licensed marijuana industry including growers, processors, dispensaries, transporters, and testing facilities, with licensing priority given to disadvantaged businesses, veteran-owned businesses, hemp license holders, and Tennessee residents

Imposes a 15% marijuana tax on dispensary sales, with 75% of revenue going to the state highway fund, 20% distributed to counties, and 5% retained for administrative costs; local governments may levy an additional sales tax up to 5%

Persons incarcerated solely for marijuana offenses (without concurrent violent felonies, firearm offenses, or other drug felonies) become eligible for immediate release from incarceration, probation, and parole

Local governments may regulate dispensary hours, locations, and operations but cannot impose restrictions more onerous than those on liquor stores; a two-thirds vote by September 30, 2025 allows localities to temporarily ban marijuana sales for one year at a time