The bill amends the Industrial Hemp Growers Act by making several key changes to the management and future of the industrial hemp fund. It establishes that the fund will be created within the state treasury and allows the state treasurer to receive fees collected under section 511, as well as other sources of money or assets for deposit into the fund. Additionally, it specifies that the fund will not lapse to the general fund at the close of the fiscal year and that the department will be responsible for administering the fund for auditing purposes.

A significant change included in the bill is the provision that the industrial hemp fund will be abolished on October 1, 2026, with any unencumbered balance at that time being transferred to the agriculture licensing and inspection fees fund. This amendment indicates a planned sunset for the fund, which will require the department to expend money from it to establish, operate, and enforce the program until its dissolution. The bill is set to take effect on February 1, 2026.

Statutes affected:
Senate Introduced Bill: 333.29107