DISCLOSURE OF MEDICAL MARIHUANA LICENSEE INFORMATION TO FINANCIAL INSTITUTION                                                                                  

House Bill 6422 as introduced

Sponsor:  Rep. Klint Kesto

Committee:  Law and Justice

Complete to 11-26-18

SUMMARY:

House Bill 6422 would amend the Marihuana Tracking Act to allow a person licensed under the Medical Marihuana Facilities Licensing Act to authorize, in writing, the Department of Licensing and Regulatory Affairs (LARA) to disclose the licensee’s information in the statewide monitoring system to a financial institution identified in the authorization. Currently, information in the system may be disclosed only for purposes of enforcing the Marihuana Tracking Act, the Michigan Medical Marihuana Act, and the Medical Marihuana Facilities Licensing Act. The bill would define financial institution as that term is defined in Section 201 of the Medical Marihuana Facilities Licensing Act.

[The “statewide monitoring system” is an internet-based, statewide database established, implemented, and maintained directly or indirectly by LARA that is available to licensees, law enforcement agencies, and authorized state departments and agencies on a 24-hour basis. Under Section 3(2)(a), (b), and (c), the system must be capable of the following:

·         Verification that a registry identification card is current and valid and has not been suspended, revoked, or denied.

·         Retention of a record of the date, time, quantity, and price of each sale or transfer of marihuana to a registered qualifying patient or registered primary caregiver.

·         Determination whether a particular sale or transfer transaction would exceed the permissible level established under the Michigan Medical Marihuana Act.]

The bill would take effect 90 days after enactment.

MCL 333.27902 and 333.27904

FISCAL IMPACT:

House Bill 6422 would not have an impact on expenditures or revenues for any unit of state or local government. Any costs incurred by LARA due to the bill would, in all likelihood, be sufficiently covered by existing departmental appropriations.

                                                                                         Legislative Analyst:   Susan Stutzky

                                                                                                 Fiscal Analyst:   Marcus Coffin

■ This analysis was prepared by nonpartisan House Fiscal Agency staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.