Industrial hemp registration program cash fund - industrial hemp research grant fund - fees

(1) There is hereby created in the state treasury the industrial hemp registration program cash fund. The fund consists of fees collected by the commissioner pursuant to subsection (2) of this section and any general fund moneys appropriated to the fund by the general assembly. The moneys in the fund are subject to annual appropriation by the general assembly to the department for the direct and indirect costs associated with implementing this article 61. (2) The commissioner shall collect a fee from persons applying for a registration pursuant to this article 61 based on a fee schedule determined by the commissioner. The commissioner shall set the fee schedule at a level sufficient to generate the amount of money necessary to cover the department's direct and indirect costs in implementing this article 61. The commissioner may also collect any fees necessary to cover the cost of inspection and compliance sampling and testing. The commissioner shall transmit the fees collected pursuant to this section to the state treasurer for deposit in the fund. (3) There is hereby created in the state treasury the industrial hemp research grant fund. The fund consists of: (a) Repealed. (b) Any moneys from foundations, private individuals, or any other funding sources that can be used to expand the scope or time frame of any hemp research authorized pursuant to this article; (c) On and after July 1, 2015, up to ten million dollars from the marijuana tax cash fund created in section 39-28.8-501, C.R.S., as enacted by Senate Bill14-215. The moneys in the fund are subject to annual appropriations by the general assembly to the department to establish and administer an industrial hemp research grant program and to conduct hemp research.