Bill > S2650

This bill, the Preparing Regulators Effectively for a Post-prohibition Adult-use Regulated Environment Act of 2023 (PREPARE Act of 2023), establishes a Commission on the Federal Regulation of Cannabis to study a prompt and plausible pathway to federal regulation of cannabis. The Commission is tasked with proposing measures to address various issues related to cannabis criminalization, financial access, research, medical use, product safety, revenue reporting, and industry guidance. The Commission is composed of members from various federal agencies, state and local governments, cannabis industry stakeholders, and experts in areas like substance abuse prevention and the history of cannabis criminalization. The Commission is required to hold public hearings, solicit comments, and publish initial and final recommendations within a one-year timeframe.