TAX/EXCISE: Increases the excise tax levied on consumable hemp products and dedicates revenues collected from the tax (OR +$5,100,000 SD RV See Note)

HB 235 increases the excise tax on consumable hemp products sold in Louisiana to 3.2% of the retail price, to be collected by retailers and paid monthly. This tax applies in addition to existing sales taxes and directly affects retailers selling these products. The bill creates the Consumable Hemp Testing and Regulation Fund, which will receive 25% of the tax revenue to support laboratory testing or state regulation of hemp products. The remaining 75% is dedicated to other existing funds: 15% to Early Childhood Education, 30% to Criminal Justice, and 30% to Drug Abuse Education. The law takes effect July 1, 2025.