Bill > SB0959

This bill amends the Michigan Regulation and Taxation of Marihuana Act by modifying the definitions of "industrial hemp" and "marihuana," as well as the administration and distribution of tax revenue from marihuana sales. The key provisions include: 1. Clarifying the definition of "industrial hemp" to mean a cannabis plant with 0.3% or less delta-9 tetrahydrocannabinol (THC) concentration. 2. Revising the definition of "marihuana" to exclude certain parts of the cannabis plant, such as mature stalks and industrial hemp. 3. Establishing the Marihuana Regulation Fund within the state treasury, into which all money collected from marihuana sales and fees will be deposited. 4. Requiring the Marijuana Regulatory Agency to use the fund for the implementation, administration, and enforcement of the Act, as well as for funding research projects on the medical use of marihuana and the prevention of suicide among public safety officers and veterans. 5. Allocating the unexpended balances of the fund to municipalities, counties, the School Aid Fund, and the Michigan Transportation Fund in specified proportions.

Budget and Finance

http://legislature.mi.gov/doc.aspx?2020-SB-0959