In Plain Speak:
Subchapter 2: Administration
§ 5421. Secretary of State’s Office Duties
· Gives the Secretary of State oversight of this profession that leaves Hemp under the full oversight of the Agency of Agriculture and seeks to develop the commerce of the industry (recreational and medicinal) by way of licensing (and maintaining standards / renewing licenses) of stewards directly.
§ 5422. Advisor Appointees
· 2 advisories appointed to the Secretary.
§ 5423. Creation of the Independent Stewardship Board (ISB)
· 5 member board appointed by Governor. Can be reconciled to other means of appointment and as S.54 currently does. 3 members will be licensed stewards or enrolled for commission upon program execution.
§ 5424. Functioning of board
· Sets board operational rules
§ 5425. General powers and duties of the board
· Sets some standard powers and duties
§ 5426. Rules
· Sets the board rules
§ 5427. Tax Accountability; Business Integration
· 10% tax rate on all transaction sales permitted for cultivation, manufacturing & production of products (e.g., salves, creams, edibles and infused beverages) and as found in Subchapter 1, section 5402 of this chapter;
· 7% tax rate for all collectives and cooperatives;
· Establishes legalities of online commerce for cannabis banking and tax payment.
§ 5428. Fees
· $375.00 for all stewardship licenses.