House File 383 amends Section 124.201 of the Iowa Code to introduce a new provision regarding the scheduling of psilocybin, specifically the pharmaceutical composition of crystalline polymorph psilocybin, also known as COMP 360. The bill stipulates that once this drug is approved by the United States Food and Drug Administration (FDA), it will be removed from Schedule I and rescheduled according to the FDA's recommendations and its classification under the federal Controlled Substances Act.

Furthermore, the bill allows for the lawful prescription, distribution, and marketing of psilocybin immediately after its rescheduling. This legislative change reflects a shift in the regulatory approach to psilocybin, recognizing its potential therapeutic uses following FDA approval.

Statutes affected:
Introduced: 124.201
Enrolled: 124.201