House Bill No. [insert bill 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 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 deposited into the state treasury and subsequently appropriated to the minimum foundation program, specifically for salary increases for public school teachers and support personnel. The legislation is set to take effect on January 1, 2026, and allows the DOR to promulgate necessary administrative rules to implement the provisions of the law.