If enacted, this bill would update current statutes by appropriating $5,000,000 from the state General Fund for fiscal year 2025-2026 to the Department of Health Services (DHS) specifically for conducting a certified clinical research study on the use of ibogaine for treating neurological diseases, including traumatic brain injury and post-traumatic stress disorder. The bill stipulates that grants can only be awarded to entities that meet specific criteria, including having a proven history in neurological research, possessing the necessary clinical and research facilities, and demonstrating a commitment to securing matching funds of at least $5,000,000 from non-state sources.

Additionally, the bill introduces a provision that exempts the appropriation from lapsing, which is a change from current law. The existing language regarding the commitment for matching funds remains unchanged, but the bill clarifies and expands the requirements for entities eligible to receive grants. Overall, the bill aims to enhance the state's capacity for research into innovative treatments for neurological conditions.