The proposed bill, General Assembly Proposed Bill No. 5109, aims to amend chapter 214c of the general statutes by replacing the existing cannabis tax based on total THC with a new excise tax. This excise tax is set at ten and seventy-five-hundredths percent, aligning it with the tax rate currently implemented in Massachusetts.

The bill seeks to streamline the taxation of cannabis products by eliminating the previous THC-based tax structure, which may have been more complex or less favorable for revenue generation. The intent is to create a more straightforward and potentially more effective tax system for cannabis sales in the state.