summary
Introduced
02/09/2024
02/09/2024
In Committee
04/05/2024
04/05/2024
Crossed Over
Passed
Dead
01/08/2025
01/08/2025
Introduced Session
103rd General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Sets forth provisions concerning the computation of taxes related to minority and other specific priority population owned business in the State. Amends the Liquor Control Act of 1934. Provides that hemp extract, hemp cannabinoid products, and any other ingredient or product derived from hemp made in compliance with State law or the originating jurisdiction shall be considered fit for human consumption and shall not be considered injurious to health or deleterious for human consumption. Sets forth provisions relating to license holders under the Act as it relates to hemp cannabinoid and cannabinoid products. Amends the Industrial Hemp Act. Establishes provisions that will enable the State to regulate hemp-derived cannabinoids. Sets forth the limitation and penalties concerning the unlawful use of hemp cannabinoid, and distinguishes the lawful use of hemp-derived cannabinoids. Sets forth other provisions concerning licenses and registration of cultivating industrial hemp, rules, administrative hearings and judicial review, loans and grants, immunity, age verification, packaging and labeling of hemp cannabinoid products, laboratory approvals, testing requirements, violations of State and federal law, licensing and regulation of hemp processors and hemp food establishments, academic research institutions, government demonstration and research entity, and cannabinoid retail tax. Limits home rule powers by providing that, except as otherwise provided in the Act, the regulation and permitting of the activities described in the Act are exclusive powers and functions of the State. Defines terms.
AI Summary
This bill amends several existing laws to establish a comprehensive regulatory framework for the hemp industry in Illinois. The key provisions are:
This bill establishes the lawful use of hemp-derived cannabinoids for persons 21 years of age or older, with certain restrictions and age verification requirements similar to the regulation of alcohol and cannabis. It creates a licensing and regulatory structure for hemp cultivators, processors, distributors, retailers, and food establishments, with the Department of Agriculture, Department of Financial and Professional Regulation, and Department of Public Health overseeing different aspects of the industry. The bill creates a Hemp Social Equity Fund to provide financial assistance, loans, grants, and technical support to social equity applicants. It imposes a 5% cannabinoid retail tax on certain hemp-cannabinoid products, with revenues deposited into the Industrial Hemp Regulatory Fund. The bill also includes provisions related to record-keeping, testing requirements, packaging and labeling, and enforcement.
Committee Categories
Government Affairs
Sponsors (6)
La Shawn Ford (D)*,
Theresa Mah (D),
Kevin Olickal (D),
Abdelnasser Rashid (D),
Dave Vella (D),
Maurice West (D),
Last Action
Session Sine Die (on 01/07/2025)
Taxonomy
Agriculture
- ‐ General Agriculture
Banking, Finance, and Domestic Commerce
- ‐ Other Commerce
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5306&GAID=17&DocTypeID=HB&SessionID=112&GA=103 | 02/09/2024 |
| BillText | https://www.ilga.gov/legislation/103/HB/10300HB5306.htm | 02/09/2024 |
Loading...