Under existing law, products that contain cannabinoids found in or derived from hemp may not be sold to minors but are otherwise not regulated. This bill would regulate the sale of products containing cannabinoids found in or derived from hemp, defined as novel cannabinoid products. This bill would require the Department of Revenue to license and regulate retailers of novel cannabinoid products. This bill would prohibit any business that sells or serves alcoholic beverages from obtaining a license. This bill would require the Department of Agriculture and Industries to approve testing and labeling requirements that each retailer must undergo before selling any given novel cannabinoid product. This bill would levy a tax of six percent on the sales price of all novel cannabinoid products. This bill would also create the Novel Cannabinoid Safety Fund and require all license fees, civil penalties, and tax proceeds be deposited into this fund and used to administer this act and otherwise protect the public from unregulated cannabinoid products.

Statutes affected:
Introduced: 2-8-281