SF 5118

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/10/2024 02:03pm

A bill for an act
relating to taxation; gross receipts; appropriating taxable cannabis gross receipts
tax revenue for certain purposes; amending Minnesota Statutes 2023 Supplement,
section 295.81, subdivision 10.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2023 Supplement, section 295.81, subdivision 10, is amended
to read:

Subd. 10.

Deposit of revenues; account established.

(a) The commissioner must deposit
the revenues, including penalties and interest, derived from the tax imposed by this section
as follows:

(1) 80 percent to the general fund; and

(2) 20 percent to the local government cannabis aid account in the special revenue fund.

(b) The local government cannabis aid account is established in the special revenue fund.

new text begin (c) Of the amount deposited under paragraph (a), clause (1), five percent is appropriated
to the commissioner of human services for youth cannabis use prevention and early
intervention and treatment of cannabis use. The amount appropriated under this paragraph
must be used for youth cannabis use prevention, early intervention, and treatment.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for gross receipts received after June 30,
2024.
new text end