Establishes maximum THC potency of cannabis items and imposes excise tax of moderate and high potency cannabis items.

This bill establishes maximum THC potency limits for cannabis products and introduces an excise tax on moderate and high potency items in New Jersey. It directly affects cannabis businesses by requiring them to adhere to these new potency standards and pay the additional tax. The legislation also mandates that the state commission create rules to enforce these limits and collect the tax.