Assembly Bill 547 establishes a comprehensive regulatory framework for medical cannabis in Wisconsin, creating the Office of Medical Cannabis Regulation to manage a registry for patients and caregivers authorized to use medical cannabis products. The bill allows registered patients to possess various forms of medical cannabis, excluding those that can be smoked, and permits designated caregivers to handle these products. It outlines the licensing and regulation of cannabis growers, processors, testing laboratories, and dispensaries, with strict requirements for applicants, including residency and criminal background checks. All cannabis products must undergo testing for safety and potency before being sold to dispensaries. The bill also amends existing laws related to the Prescription Drug Monitoring Program (PDMP) and includes provisions for confidentiality regarding licensed cannabis entities.

Furthermore, the bill stipulates that only licensed dispensaries, which must pay an annual fee of $5,000, are allowed to sell or transfer medical cannabis products. Applicants for dispensary licenses must have a majority of their principal officers or board members as state residents and must not have recent criminal convictions or financial interests in licensed testing laboratories. Dispensaries are required to consult with a pharmacist before dispensing to new patients and must adhere to specific dosage limits and record-keeping requirements. The bill also mandates the establishment of a statewide seed-to-sale database to track cannabis products and decriminalizes the possession, manufacture, distribution, and delivery of medical cannabis when compliant with the new regulations.