Current through 2024 Legislative Session Act Chapter 531
Section 1386 - Deposit of receipts.(a)All money received by the Division of Revenue under this chapter shall be allocated as follows:(1) All marijuana tax money and all money received through fees or other mechanisms must be deposited in accordance with § 6103(a) of Title 29 and credited to the Marijuana Regulation Fund.(2) Each month, 7% of total marijuana tax money received from the preceding month shall be withdrawn from the Marijuana Regulation Fund and credited to the Justice Reinvestment Fund.(b) The State Treasurer shall invest the Funds consistent with the investment policies established by the Cash Management Policy Board. The State Treasurer shall credit interest to the Funds on a monthly basis consistent with the rate established by the Cash Management Policy Board.Added by Laws 2023 , ch. 24, s 4.Section 15 of the enacting legislation provides that this section takes effect upon the later of the following: (a) Publication in the Register of Regulations of a notice by the Controller General that the funds required to implement this Act have been appropriated. (b) Upon enactment.