This bill amends various sections of Alaska's marijuana regulations, primarily focusing on the registration process for marijuana establishments and the associated fees. Key changes include the transition from annual to biennial registrations for applicants and local governments, as indicated by the insertion of "biennial" in multiple sections, including AS 17.38.200(d) and AS 17.38.210(e). Additionally, the bill stipulates that if the board does not issue a registration within 90 days, applicants may resubmit their applications directly to local regulatory authorities, which must also issue registrations within 90 days of receipt. The bill further clarifies that local governments must notify the board when a biennial registration is issued.

Moreover, the bill introduces a tax exemption for qualified small businesses, specifically Alaska corporations that meet certain criteria outlined in the new subsections added to AS 43.20.012. It also revises the excise tax on marijuana, reducing the rate from $50 to $12 per ounce for sales from cultivation facilities to retail stores or manufacturing facilities. Additional provisions include penalties for delinquent tax payments and the applicability of these changes starting from the tax year beginning on or after the effective date of the Act, which is set for July 1, 2025.

Statutes affected:
SB0073A, AM SB 73, introduced 01/24/2025: 17.38.200, 17.38.190, 17.38.210, 17.38.320, 17.38.300, 43.20.012, 16.10.380, 16.10.400, 16.10.450, 16.10.455, 16.12.010, 16.12.080, 16.12.090, U.S.C, 43.61.010, 17.38.020, 43.61.020, 43.61.030, 43.05.220