Bill > SB3790

This bill amends the Illinois Income Tax Act to set forth provisions concerning the computation of taxes related to minority and other specific priority population owned businesses in the State. It also amends the Liquor Control Act of 1934 to set forth provisions concerning hemp products, and amends the Industrial Hemp Act to establish provisions that will enable the State to regulate hemp-derived cannabinoids, distinguish the lawful use of hemp-derived cannabinoids, and set forth limitations and penalties concerning the unlawful use of hemp cannabinoids. The bill also establishes 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 entities, and imposes a cannabinoid retail tax.