Industrial Hemp: administration; administration of industrial hemp program; modify. Amends sec. 107 of 2020 PA 220 (MCL 333.29107).
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the administration of Michigan’s industrial hemp program by adjusting the funding mechanism for the Industrial Hemp Fund. It clarifies how fees and other assets can be deposited into the fund and ensures that money within the fund doesn’t expire. The bill also establishes a timeline for the fund’s eventual closure and transfer of remaining funds to a different state fund.
Key provisions
- Creates the Industrial Hemp Fund within the State Treasury.
- Allows the State Treasurer to deposit fees and other assets into the fund.
- Specifies that interest and earnings from fund investments are credited to the fund.
- Designates the Department as the administrator for auditing purposes.
- Authorizes the Department to use fund money to operate and enforce the industrial hemp program.
- Sets a date (October 1, 2026) for the fund’s abolition.
- Outlines the transfer of any remaining fund balance to the Agriculture Licensing and Inspection Fees Fund.
Who is affected
- Industrial hemp growers in Michigan
- The State Treasury
- The Department of Agriculture and Rural Development
- The State Treasurer
- Individuals and businesses involved in the industrial hemp industry
Notable changes
- Establishes a specific date for the Industrial Hemp Fund to be dissolved.
Bill text
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Document of record
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- Senate Introduced Bill
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