The proposed bill establishes the Adult Use Cannabis Regulation Act, which creates a comprehensive framework for the licensing and regulation of cannabis-related activities, including cultivation, manufacturing, transportation, possession, and sale. It introduces key definitions to clarify the scope of the legislation and imposes a 15% tax on cannabis sales, with revenues directed to a Cannabis Business Regulation Fund. The act also outlines the powers and duties of the director responsible for overseeing cannabis businesses, including the authority to issue, suspend, and revoke licenses, as well as to conduct inspections and audits. Additionally, the bill sets strict eligibility criteria for applicants and establishes penalties for violations, ensuring compliance with both state and federal laws.

Furthermore, the bill amends existing statutes related to controlled substances, providing an affirmative defense for individuals possessing cannabidiol treatment preparations under specific conditions. It also introduces stricter penalties for violations involving controlled substances and repeals outdated provisions. The legislation aims to enhance regulatory oversight within the cannabis industry while ensuring public safety and generating tax revenue for the state. Overall, the bill seeks to create a regulated environment for adult-use cannabis, balancing the interests of public health, safety, and ethical standards in the licensing process.

Statutes affected:
As introduced: 21-5703, 21-5705, 21-5706, 21-5707, 21-5709, 21-5710, 79-5201, 79-5210, 21-5705a