(a) There is created a special account in the State Treasury to be known as the Medical Cannabis Commission Fund. Expenditures from the Medical Cannabis Commission Fund may be made only by the commission to implement, administer, and enforce this chapter. Specifically, the Medical Cannabis Commission Fund includes all of the following:
Terms Used In Alabama Code 20-2A-10
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
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.
state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
(1) Tax proceeds collected pursuant to subsections (a) and (b) of Section 2 of the act adding this language, less an amount sufficient to cover the cost of administration of the tax levies imposed under subsections (a) and (b) of Section 2, which shall be retained by the Department of Revenue.(2) License fees, civil penalties, and other fees or charges collected pursuant to Article 4 of the act adding this language.(3) Any monies appropriated by the Legislature for the initial operation of the commission.(b) Amounts in the Medical Cannabis Commission Fund shall be budgeted and allotted in accordance with Section 41-4-80 through 41-4-96 and Sections 41-19-1 through 41-19-12, but shall not be limited by the fiscal yearappropriation cap.(c) Beginning October 1, 2025, any funds in the Medical Cannabis Commission Fund in excess of actual expenses from the previous fiscal year shall be distributed, less 10 percent, as follows:
(1) 60 percent shall be transferred to the General Fund.(2) 30 percent shall be transferred to the Medical Cannabis Research Fund established pursuant to subsection (f) of Section 4.
