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, such as having a proven history in neurological research, possessing adequate clinical and research facilities, and demonstrating a commitment to matching funds of at least $5,000,000 from non-state sources.

Additionally, the bill introduces a provision that exempts this appropriation from lapsing, which means the allocated funds would not expire at the end of the fiscal year, allowing for continued use in the research study. The language of the bill replaces and clarifies existing requirements for grant eligibility, ensuring that only qualified entities can participate in the research initiative.