Substitute For

HOUSE BILL NO. 4921

A bill to amend 2016 PA 281, entitled

"Medical marihuana facilities licensing act,"

by amending section 701 (MCL 333.27701).

the people of the state of michigan enact:

Sec. 701. By 30 days after the end of each state fiscal year, each Every 3 years, or a shorter time period as determined by the marijuana regulatory agency, a licensee shall transmit to the board marijuana regulatory agency and to the municipality financial statements of the licensee's total operations. The financial statements shall must be reviewed by a certified public accountant in a manner and form prescribed by the board. marijuana regulatory agency. The certified public accountant must be licensed in this state under article 7 of the occupational code, 1980 PA 299, MCL 339.720 to 339.736. The compensation for the certified public accountant shall must be paid directly by the licensee to the certified public accountant.