Creates the state cannabis industry and economic development committee and requires the committee to: (1) Develop a state comprehensive plan that identifies and coordinates the various business and economic opportunities within the cannabis industry;

(2) Recommend a state financial system that best implements the state's marijuana marketplace;

(3) Develop a method for monitoring and assessing the economic returns the cannabis industry delivers to the state;

(4) Examine and report any changes in federal law that may impact the legal operations of the cannabis industry in the state;

(5) Make recommendations for a statewide cannabis industry and economic development coordinator; and

(6) Make recommendations on options for the distribution of tax revenue from the sale of marijuana.

Expires January 31, 2017.