410 ILCS 707/55: Illinois Hemp Regulatory Fund.

(This Section may contain text from a Public Act with a delayed effective date)

There is created in the State treasury a special fund to be known as the Illinois Hemp Regulatory Fund. All fees and fines collected by the Department under this Act shall be deposited into the Fund. Moneys in the Illinois Hemp Regulatory Fund shall be used by the Department for the purposes of implementing, administering, and enforcing this Act.

Notwithstanding any other provision of law, in addition to any other transfers that may be provided by law, on November 12, 2026, or as soon thereafter as practical, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the Industrial Hemp Regulatory Fund into the Illinois Hemp Regulatory Fund. Upon completion of the transfers, the Industrial Hemp Regulatory Fund is dissolved, and any future deposits due to that Fund and any outstanding obligations or liabilities of that Fund pass to the Illinois Hemp Regulatory Fund.