SF2791

Purpose of the Bill

The bill aims to modify how proceeds from the cannabis gross receipts tax are used in Minnesota. It focuses on amending existing statutes to fund youth programs and support local governments through adjusted revenue allocations.

Main Provisions

• Revenue Allocation: The bill changes the distribution of the cannabis gross receipts tax revenues. It specifies that 80% of the proceeds will go to the state's general fund, while 20% is allocated to a special fund called the local government cannabis aid account.
• Youth Grant Program Funding: It introduces the cannabis youth grant program, which is designated to receive 10% of the funds initially allocated to the general fund. This program will be managed by the Commissioner of Children, Youth, and Families, indicating a focus on supporting youth-related initiatives.

Significant Changes to Existing Law

• The bill amends Minnesota Statutes 2024, section 295.81, subdivision 10, to establish a specific funding structure for the revenues from the cannabis tax.
• It proposes new law coding within Minnesota Statutes chapter 342 to facilitate the new cannabis youth grant program.

Relevant Terms

cannabis, cannabis gross receipts tax, general fund, local government cannabis aid account, special revenue fund, cannabis youth grant program, Commissioner of Children, Youth, and Families.