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Legislative Year: 2022 Change
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Bill Detail: HB22-1341

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Title Marijuana Tax Cash Fund
Status Governor Signed (04/25/2022)
Bill Subjects
  • Fiscal Policy & Taxes
  • Liquor, Tobacco, & Marijuana
House Sponsors L. Herod (D)
J. McCluskie (D)
Senate Sponsors B. Rankin (R)
R. Zenzinger (D)
House Committee Appropriations
Senate Committee Appropriations
Date Introduced 03/28/2022
Summary

Joint Budget Committee. When the marijuana tax cash fund
(fund) was initially created, money in the fund was only available to be
appropriated for fiscal years following the fiscal year in which it was
received by the state. In 2020, the general assembly repealed this
restriction, but in 2021, this language was inadvertently added back in by
legislation that made an unrelated conforming amendment. The bill

restores the correct language, which permits the general assembly to
appropriate money from the fund for the same fiscal year in which it is
received.
The bill delays transfers from the fund to the public school capital
construction assistance fund (BEST fund). Instead of transferring $100
million on June 1, 2022, the bill requires the state treasurer to transfer the
following amounts from the fund to the BEST fund:
  • $50 million on June 1, 2022;
  • $30 million on June 1, 2023; and
  • $20 million on June 1, 2024.
The bill also modifies the reserve requirement within the fund.
Instead of limiting appropriations to 93% of the beginning balance in the
fund, it requires the reserve to be 15% of the amount appropriated for the
fiscal year. The bill also specifies that this reserve excludes any money
from the fund that is designated to constitute part of the state emergency
reserve and clarifies how the reserve works.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (03/28/2022) (most recent)  
Additional Bill Documents Bill Documents
Including:
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  • Past fiscal notes
  • Committee activity and documents
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