Bill
A 4764
Overview: Bill A 4764 repeals the excise tax on medical cannabis and the medical cannabis trust fund.Purpose and Intent: The bill aims to eliminate the excise tax on medical cannab
Overview: Bill A 4764 repeals the excise tax on medical cannabis and the medical cannabis trust fund.
Purpose and Intent: The bill aims to eliminate the excise tax on medical cannabis and dismantle the medical cannabis trust fund. This is intended to reduce the financial burden on patients who rely on medical cannabis for their healthcare needs.
Key Provisions:
- Repeals the 4% excise tax on the sale of medical cannabis
- Eliminates the medical cannabis trust fund, which was previously used to fund the administration and enforcement of the medical cannabis program
Affected Parties and Impacts:
- Medical cannabis patients will benefit from lower prices and reduced out-of-pocket costs for their treatments
- Dispensaries and other medical cannabis businesses will no longer be required to collect the excise tax
- The state will forgo the revenue generated by the excise tax, which was previously used to fund the medical cannabis program
Procedural and Timeline Considerations:
The bill has been referred to the Ways and Means committee for further consideration. If passed, the repeal of the excise tax and the elimination of the trust fund would take effect immediately.
Compiled from official sources — confirm details with the bill’s official record.
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