Creates provisions relating to cannabis
What changed between versions
Added a new 2% excise tax on the retail sale of hemp-derived consumable beverage products, with revenue designated for veterans' programs, drug abuse prevention and education, and first responder programs.
Established January 1, 2026 as the effective date for the new excise tax on hemp-derived consumable beverage products.
Reorganized and clarified definitions of cannabinoids, distinguishing between intoxicating and non-intoxicating cannabinoids, and added specific definitions for hemp-derived consumable beverage products.
Added new section 144.028 specifically governing hemp-derived consumable beverage products and their tax treatment.
Expanded the bill to include Chapter 144 in addition to Chapter 195, increasing the total number of new sections from three to twenty-two.