Bill > HB2057

This bill modifies the taxation and revenue distribution of medical marijuana sales in Oklahoma by making several key changes to existing law. Starting from fiscal year 2026, the 7% tax on retail medical marijuana sales will be apportioned differently: 59.23% will go to the State Public Common School Building Equalization Fund, 34.62% to the Oklahoma Medical Marijuana Authority, 5% to the State Department of Health for drug and alcohol rehabilitation (reduced from the previous 6.15%), and a new allocation of 1.15% will be directed to the Trauma Care Assistance Revolving Fund. Any surplus collections beyond the first $65 million will continue to be deposited in the State Treasury's General Revenue Fund. The bill maintains strict penalties for non-compliance, stipulating that businesses that intentionally fail to remit taxes will have their medical marijuana licenses permanently revoked. The changes will take effect on July 1, 2025, and the bill includes an emergency clause to ensure immediate implementation upon passage and approval.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2057&Session=2600