(a)  Effective July 1, 2016, except for the one hundred twenty-five thousand dollar ($125,000) fee paid by hybrid cannabis retailers pursuant to § 21-28.11-10, all fees collected by the departments of health and business regulation from applicants, registered patients, primary caregivers, authorized purchasers, licensed medical marijuana cultivators, cooperative cultivations, compassion centers, other licensees licensed pursuant to this chapter, and compassion-center and other registry identification cardholders shall be placed in restricted-receipt accounts to support the state’s medical marijuana program, including but not limited to, payment of expenses incurred for the administration of the program. The restricted-receipt account will be known as the “medical marijuana licensing account” and will be housed within the budgets of the departments of business regulation and health until final issuance of rules and regulations by the commission, at which time said account shall be housed within the budget of the commission.

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Terms Used In Rhode Island General Laws 21-28.6-17

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(b)  All revenues remaining in the restricted-receipt accounts after payments specified in subsection (a) of this section shall first be paid to cover any existing deficit in the department of health’s restricted-receipt account or the department of business regulation’s restricted-receipt account. These transfers shall be made annually on the last business day of the fiscal year until final issuance of rules and regulations of the commission, at which time the revenues subject to this subsection shall be used to cover any existing deficit in the commission’s budget.

(c)  All revenues remaining in the restricted-receipt accounts after payments specified in subsections (a) and (b) shall be paid into the state’s general fund. These payments shall be made annually on the last business day of the fiscal year.

History of Section.
P.L. 2016, ch. 142, art. 14, § 2; P.L. 2017, ch. 302, art. 7, § 1; P.L. 2019, ch. 88, art. 15, § 5; P.L. 2022, ch. 31, § 5, effective May 25, 2022; P.L. 2022, ch. 32, § 5, effective May 25, 2022.