Tax on retail medical marijuana.

1. Law
2. Oklahoma Statutes
3. Public Health and Safety
4. Tax on retail medical marijuana.

A. The tax on retail medical marijuana sales will be established at seven percent (7%) of the gross amount received by the seller.

B. This tax will be collected at the point of sale. Except as provided for in subsection D, tax proceeds will be applied primarily to finance the regulatory office.

C. Except as provided for in subsection D, if proceeds from the levy authorized by subsection A of this section exceed the budgeted amount for running the regulatory office, any surplus shall be apportioned with seventy-five percent (75%) going to the General Revenue Fund and may only be expended for common education including funding redbud school grants pursuant to Section 3-104 of Title 70 of the Oklahoma Statutes. Twenty-five percent (25%) shall be apportioned to the Oklahoma State Department of Health and earmarked for drug and alcohol rehabilitation.

D. For fiscal year 2022, proceeds from the levy authorized by subsection A of this section shall be apportioned as follows:

1. The first Sixty-five Million Dollars ($65,000,000.00) shall be apportioned as follows:

• a.fifty-nine and twenty-three hundredths percent (59.23%) to the State Public Common School Building Equalization Fund,
• b.thirty-four and sixty-two hundredths percent (34.62%) to the Oklahoma Medical Marijuana Authority, a division within the Oklahoma State Department of Health, and
• c.six and fifteen hundredths percent (6.15%) to the Oklahoma State Department of Health and earmarked for drug and alcohol rehabilitation; and

2. Any surplus collections shall be apportioned to the General Revenue Fund of the State Treasury.

Added by Section 7, State Question No. 788, Initiative Petition No. 412, adopted at election held June 26, 2018, eff. July 26, 2018. Amended by Laws 2021, c. 563, § 2, emerg. eff. May 28, 2021.

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