HB20-1401
Marijuana Tax Cash Fund Spending And Transfer
Concerning the transfer of money from the marijuana tax cash fund to the general fund that is made available due to the repeal of the prohibition on the general assembly appropriating money from the marijuana tax cash fund in the year that the money is received.
Session:
2020 Regular Session
Subject:
Bill Summary
State Revenue & Budget
The act repeals the prohibition on the general assembly appropriating the bulk of the money from the marijuana tax cash fund until the year following the year that the revenue is received by the state. The fund reserve is clarified in light of this change. The state treasurer is required to transfer $136,989,750 from the fund to the general fund on October 1, 2020.
(Note: This summary applies to this bill as enacted.)