HOUSE BILL NO. 6120

August 17, 2020, Introduced by Reps. Cynthia Johnson and Hernandez and referred to the Committee on Appropriations.

"Medical marihuana facilities licensing act,"

by amending section 604 (MCL 333.27604).

the people of the state of michigan enact:

Sec. 604. (1) The marihuana regulatory fund is created in within the state treasury.

(2) The application fee collected under section 401 and the regulatory assessment collected under section 603 shall must be deposited in into the marihuana regulatory fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.

(3) Money Except as otherwise provided in this section, money in the marihuana regulatory fund at the close of the fiscal year shall must remain in the fund and shall must not lapse to the general fund.

(4) The department shall be marijuana regulatory agency is the administrator of the marihuana regulatory fund for auditing purposes.

(5) Except as provided in section 603(1)(d) and (e), the department shall expend money from the marihuana regulatory fund, upon appropriation, only for implementing, administering, and enforcing this act.

(6) For the fiscal year ending September 30, 2020 only, $17,000,000.00 of the money in the marihuana regulatory fund is transferred to and must be deposited into the general fund.

(7) As used in this section, "marijuana regulatory agency" means the marijuana regulatory agency created under Executive Reorganization Order No. 2019-2, MCL 333.27001.