The bill amends Minnesota Statutes 2023 Supplement, section 295.81, subdivision 10, regarding the allocation of revenues from the cannabis gross receipts tax. It specifies that 80 percent of the tax revenue will continue to be deposited into the general fund, while 20 percent will go to the local government cannabis aid account in the special revenue fund. Additionally, the bill introduces a new provision that mandates that five percent of the amount deposited into the general fund is to be annually appropriated to the commissioner of children, youth, and families. This funding is designated for youth cannabis use prevention, early intervention, and treatment programs.

Furthermore, the bill establishes an effective date for these changes, stating that they will apply to gross receipts received after June 30, 2024. This timeline allows for a transition period before the new appropriations and allocations take effect.