Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
Now law
This is now an official law, recorded in the state's law books.
The governor signed it. Nothing left to watch.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Fiscal Summary STATE GOVERNMENTREVENUEGeneral FundPromising Futures FundFY26-27 through FY28-29($128,585,000)$128,585,000 EXPENDITURESPromising Futures FundFY26-27$1,550,000FY27-28 & FY28-29$1,250,000 OTHER FISCAL IMPACT The extent of stable revenues generated from the regulation of hemp-derived cannabinoid products is contingent on recent federal action and state agency enforcement of such action. At this time, the state will continue to regulate such products pursuant to state laws pending guidance from the United States Department of Justice. The extent and timing of any expenditures from the Promising Futures Fund to the Programs cannot be estimated with reasonable certainty. Bill Summary This bill establishes a special fund in the state treasury known as the promising futures fund ("the fund") to consist of all of the following: Amounts from hemp derived cannabinoid product (HDCP) licensing fees and taxes, as described below. Amounts from vapor and tobacco product taxes, as described below. Amounts from the sale or distribution of unregistered vapor products, as described below. Any federal funds, grants, gifts, or donations received by the department of human services ("department") for purposes consistent with this bill. Moneys specifically appropriated by the general assembly. Any other moneys authorized by law to be deposited into the fund. This bill requires the fund to be used solely for the purposes authorized by this bill. This bill authorizes the department to retain and use up to 10% of any amounts credited to the fund for administrative purposes. However, any amounts used by the department are separate from, and may not be used for, the regulation, enforcement, or collection of any taxes, fees, or assessments. Further, this bill does not limit the authority of any sta
