The bill amends the "Michigan Regulation and Taxation of Marihuana Act" by redefining key terms such as "cannabis regulatory agency," "contract processing," and "raw marihuana plant material," which clarifies the roles of entities in the cannabis industry. It introduces new sections (9b, 9c, 9d, 9e, and 9f) that likely outline additional regulatory measures for cannabis establishments. The cannabis regulatory agency is mandated to establish rules for licensing, safety standards, and operational procedures, emphasizing health standards, testing, and labeling requirements, including a warning label for products sold to pregnant or breastfeeding women. The bill also promotes community participation from those disproportionately affected by past marihuana prohibition, aiming for an inclusive regulatory framework.

Additionally, the bill includes amendments focused on financial transactions and compliance for marihuana establishments. It requires these establishments to conduct payments via electronic funds transfer within specified timeframes and prohibits them from extending credit or accepting gifts from one another unless under common ownership. Violations of these financial regulations will lead to disciplinary actions, including civil fines and potential license suspensions or revocations. The bill establishes a marihuana regulation fund to collect fees and taxes from marihuana operations, which will support the implementation of the act and research on marihuana's medical efficacy for veterans, with specified allocations to municipalities, counties, the school aid fund, and the Michigan transportation fund.

Statutes affected:
House Introduced Bill: 333.27953