The bill amends New Jersey law to clarify and update definitions related to hemp and cannabis, specifically refining terms such as "hemp," "hemp products," and "intoxicating hemp products," which are defined as those exceeding certain THC concentration limits. It establishes that hemp and hemp-derived cannabinoids are agricultural commodities rather than controlled substances, facilitating their commercial sale and production. The bill also introduces new legal language to define various cannabis-related terms and delineates the roles of licensed entities in the cannabis industry, ensuring compliance with health and safety standards.

Additionally, the bill sets forth regulations for the sale and distribution of intoxicating hemp products, requiring sellers to be licensed by the Cannabis Regulatory Commission and prohibiting sales to individuals under 21. It establishes the "Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Fund" to collect fees and tax revenues from cannabis sales, with a portion allocated to municipalities classified as "impact zones." The legislation also introduces penalties for violations related to intoxicating hemp products, allows local municipalities to impose a transfer tax on cannabis sales, and mandates the creation of a public education program regarding intoxicating hemp beverages. Overall, the bill aims to enhance regulatory oversight, promote public safety, and support social equity initiatives within the cannabis industry.

Statutes affected:
Introduced: 4:28-8, 24:6I-33, 24:21-5
Advance Law: 4:28-8, 24:6I-33, 24:21-5, 24:6I-50, 40:48I-1
Pamphlet Law: 4:28-8, 24:6I-33, 24:21-5, 24:6I-50, 40:48I-1