The Dedicated Marijuana Account is an appropriated account. All moneys received by the Liquor and Cannabis Board from marijuana-related activities must be deposited in this account. These moneys include marijuana excise taxes collected from sales of marijuana and marijuana products, license fees, penalties, and forfeitures from marijuana producers, processors, researchers, and retailers. Moneys from the account are distributed to agencies, local governments, and to the Basic Health Plan Trust Account. At the end of each fiscal year, unappropriated amounts in the Dedicated Marijuana Account are transferred to the State General Fund.
Beginning in fiscal year 2023, and each fiscal year thereafter, $125 million must be transferred into the Community Reinvestment Account (Account) and appropriated to the Department of Commerce to establish a cannabis equity grant program.
The Account is created in the State Treasury. Moneys in the Account may be spent only after appropriation. Expenditures from the account may be used for:
The Account is added to the statutory list of accounts that receive their proportionate share of earnings based on average daily balance.