Bill > S5166

This bill, the Preparing Regulators Effectively for a Post-prohibition Adult-use Regulated Environment Act of 2022 (or the PREPARE Act of 2022), establishes a Commission on the Federal Regulation of Cannabis to study and propose a prompt and plausible pathway to the federal regulation of cannabis. The Commission is tasked with addressing various issues related to cannabis criminalization, access to financial services and research, medical cannabis access and training, product safety and labeling, revenue collection, and the coexistence of hemp and cannabis industries. The Commission will solicit public input, hold hearings, and publish initial and final recommendations within a year of the bill's enactment, with the goal of developing a regulatory framework for cannabis that is similar to the regulation of alcohol.