House Bill No. [insert number] proposes the enactment of Chapter 20 of Subtitle II of Title 47 of the Louisiana Revised Statutes, which establishes an excise tax on the wholesale sale of cannabis. The tax is set at a rate of 15% based on the average market price of cannabis sold by licensed cannabis production facilities to cannabis retailers or cannabis-infused product manufacturers. The bill includes detailed definitions of terms related to cannabis, such as "cannabis production facility," "cannabis retailer," and "cannabis-infused product." It also outlines the responsibilities of the Department of Revenue (DOR) in collecting and enforcing the tax, as well as the cannabis production facilities' obligation to collect and remit the tax.

Additionally, the bill mandates that all proceeds from the excise tax be directed to the state treasury, with a requirement that the legislature annually appropriates the funds to the minimum foundation program. This funding is specifically designated for salary increases for certificated teachers and school support personnel in public elementary and secondary schools. The provisions of this bill are set to take effect on January 1, 2026.