Industrial Hemp: licenses; licensing and regulations for processing, brokering, and marketing industrial hemp, supplying industrial hemp seed, and engaging in wholesale of industrial hemp products; create. Creates new act & repeals 2014 PA 547 (MCL 286.841 - 286.859). TIE BAR WITH: HB 5041'25, HB 5042'25, HB 5043'25

HB 5040 creates a state licensing system for businesses processing consumable hemp products, such as edibles, beverages, or infused items containing nonintoxicating cannabinoids (e.g., CBD products that don’t cause intoxication). Businesses must apply for a license by providing detailed operational information, including key personnel details and location specifics, and pay required fees. Licenses are valid for one year with renewal options but may be denied for incomplete applications, business locations in dwellings, unpaid fees, or false statements. The bill repeals an older law (2014 PA 547) and establishes a dedicated fund for hemp-related activities.