The bill amends New Jersey's existing legislation on hemp and cannabis, specifically updating definitions and regulations to clarify terms such as "Hemp product" and "intoxicating hemp product." It establishes that hemp and hemp-derived cannabinoids are agricultural commodities rather than controlled substances, and it introduces specific THC concentration limits for these products. Additionally, the bill refines definitions related to cannabis regulation, ensuring that cannabis items do not include hemp products cultivated under the New Jersey Hemp Farming Act. The amendments aim to provide clearer guidelines for the cultivation, handling, and sale of hemp and cannabis products, while distinguishing between the two in legal contexts.

Moreover, the bill outlines new regulations for the sale and distribution of intoxicating hemp products, requiring that they can only be sold by licensed entities and prohibiting sales to individuals under 21 years of age. It also clarifies the licensing process for intoxicating hemp beverages, allowing holders of plenary wholesale and retail distribution licenses to sell these products under specific conditions. The bill establishes a Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Fund to collect fees and tax revenues from cannabis and intoxicating hemp beverage sales, with a portion allocated to programs preventing underage consumption. Additionally, it introduces penalties for violations related to intoxicating hemp products and allows municipalities to impose local cannabis transfer and user taxes, enhancing social equity while regulating the cannabis market.

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