The bill amends the Revised Code to establish a comprehensive regulatory framework for the sale, taxation, and distribution of intoxicating hemp products, particularly drinkable cannabinoid products. It prohibits the sale of these products outside licensed dispensaries and introduces new definitions and classifications for hemp products, including distinctions between cannabinoid and non-cannabinoid products. Key insertions include the establishment of new sections (3779.01 to 3779.99) that outline the regulatory framework and specific definitions related to hemp and its derivatives. The bill also modifies existing tax-related sections to incorporate provisions for the taxation of hemp products, ensuring that the state can levy taxes on these items and clarifying the roles of state officials in tax collection and management.

Additionally, the bill mandates background checks for applicants seeking licenses for hemp cultivation and processing, prohibits licenses for individuals with felony convictions related to controlled substances within the past ten years, and sets operational standards for hemp cultivation. It establishes a tax framework that includes a 15% tax on dispensary receipts and a $3.50 per gallon excise tax on manufacturers. The bill also outlines penalties for non-compliance, including misdemeanors and felonies for selling to individuals under twenty-one. Overall, the legislation aims to create a structured and regulated environment for the hemp market, ensuring compliance with state and federal laws while generating revenue for the state.

Statutes affected:
As Introduced: 131.02, 715.013, 928.01, 928.03, 4506.01, 5502.01, 5502.13, 5502.14, 5703.052, 5703.053, 5703.19, 5703.263, 5703.50, 5703.70, 5703.77