The bill amends New Jersey's existing legislation concerning hemp and cannabis by clarifying definitions and regulations. It updates Section 3 of P.L.2019, c.238 to define "Hemp product" as a finished product with a total tetrahydrocannabinol concentration of no more than 0.3 percent and introduces the term "intoxicating hemp product" for those exceeding specific THC thresholds. Additionally, it refines definitions related to cannabis, ensuring that cannabis items do not include hemp products cultivated or sold under the New Jersey Hemp Farming Act. The bill establishes licensing requirements for the sale of intoxicating hemp products, mandating that sellers be licensed by the Cannabis Regulatory Commission or hold a valid distribution license, while prohibiting sales to individuals under 21 years of age.

Moreover, the bill creates a Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Fund to collect fees and tax revenues from cannabis and intoxicating hemp beverage sales, with allocations for programs aimed at preventing underage consumption. It outlines various retail license classifications and grants municipalities authority to regulate these licenses. The bill also establishes civil penalties for violations related to intoxicating hemp products and introduces optional local cannabis transfer and user taxes. A public education program will be developed to inform businesses about the new law, with provisions taking effect in stages to allow for proper implementation.

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