Home Uncategorized Oklahoma Medical Marijuana Authority expecting budget growth ahead of autonomy

Oklahoma Medical Marijuana Authority expecting budget growth ahead of autonomy

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The Oklahoma Medical Marijuana Authority says it expects its budget request to increase for fiscal year 2023 as it transitions to becoming an independent agency by November.

Previously, OMMA has operated as a part of the Oklahoma Department of Health.

Executive Director Adria Berry said Monday during the Medical Marijuana Advisory Council meeting the agency will increase its budget request for the upcoming fiscal year but expects it to “level out in subsequent years.”

The agency has brought in more than $24 million in excise tax revenue so far this year. State and local taxes on the medical marijuana industry brought an additional $31 million this year, according to Berry.

The agency was authorized to spend $42.1 million during fiscal year 2022, which ends on June 30. OMMA has spent $27.3 million of that money so far, said Berry. However, she said that number does not reflect all the agency’s expenses, Berry said. Money that remains unspent by OMMA goes back into the revolving fund.

The move to make OMMA distinct from the state health department is part of Senate Bill 1543, which was signed by the governor in May. The bill calls for creating OMMA as a “separate and distinct agency” and directs the transfer of records, property, funds, and other assets.

[Read more at The Center Square]

The post Oklahoma Medical Marijuana Authority expecting budget growth ahead of autonomy appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

See also  Supreme Court: Medical marijuana can’t be taxed in New Mexico

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