summary
Introduced
02/08/2019
02/08/2019
In Committee
02/08/2019
02/08/2019
Crossed Over
Passed
Dead
04/08/2019
04/08/2019
Introduced Session
2019 Regular Session
Bill Summary
Establishing the Maryland People's Fund as a special, nonlapsing fund; requiring the State Treasurer to administer the Fund; specifying the contents of the Fund; providing for the investment of money in and expenditures from the Fund; requiring the Comptroller to distribute to the Fund a certain percentage of the State income tax paid by each owner of certain medical cannabis growers, processors, and dispensaries that is attributable to income derived from the medical cannabis industry for the immediately preceding taxable year; etc.
AI Summary
This bill establishes the Maryland People's Fund as a special, nonlapsing fund to be administered by the State Treasurer. The fund will consist of revenue from a 25% distribution of the state income tax paid by owners of licensed medical cannabis growers, processors, and dispensaries, as well as any other appropriations or money accepted for the fund's benefit. The fund cannot be used for administrative expenses and its investments and expenditures must follow the state budget. The bill also exempts the Maryland People's Fund from a provision that otherwise requires net interest on state funds to accrue to the general fund.
Committee Categories
Budget and Finance
Sponsors (11)
Gabriel Acevero (D)*,
Wanika Fisher (D),
Julian Ivey (D),
Marc Korman (D),
Robbyn Lewis (D),
Brooke Lierman (D),
David Moon (D),
Nick Mosby (D),
Vaughn Stewart (D),
Melissa Wells (D),
Jheanelle Wilkins (D),
Last Action
Hearing 3/01 at 1:00 p.m. (Ways and Means) (on 02/12/2019)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1089?ys=2019rs |
| State Bill Page | http://mgaleg.maryland.gov/webmga/frmError.aspx?aspxerrorpath=/webmga/frmMain.aspx |
| State Bill Page | http://mgaleg.maryland.gov/webmga/frmMain.aspx?id=hb1089&stab=01&pid=billpage&tab=subject3&ys=2019rs |
| Fiscal Note/Analysis | http://mgaleg.maryland.gov/2019RS/fnotes/bil_0009/hb1089.pdf |
| BillText | http://mgaleg.maryland.gov/2019RS/bills/hb/hb1089f.pdf |
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