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Panel extends medical-marijuana privilege tax sunset; proceeds fund UAMS cancer institute
Summary
The committee approved a motion to extend the sunset on the medical-marijuana privilege tax to February 2023; the sponsor said proceeds predominantly fund the cancer institute at the University of Arkansas for Medical Sciences (UAMS).
Senate Bill 465 was introduced to extend the sunset date for the medical-marijuana privilege tax to Feb. 2023. The sponsor told the committee the proceeds from the privilege tax predominantly support the cancer institute at the University of Arkansas for Medical Sciences.
Senators asked for clarification on the bill's revenue impact; the committee recorded that this bill did not have an impact statement for the current session. A motion to "do pass" was made, seconded and carried by voice vote.
Next steps: SB 465 advances out of committee; no further details on fiscal mechanics were discussed during this item.
