SB1570

THE CONTEXT: Laws 2023, Chapter 139 appropriated $5 million in FY 2024 to DHS to provide competitive research grants for whole mushroom psilocybin phase one, phase two and phase three clinical trials that are capable of being approved by the U. S.

WHAT THE BILL DID: The final vetoed version would establish the Psilocybin Control and Regulation Fund (Fund) to be administered by DHS consisting of fees and civil penalties collected through the regulation of psilocybin, specifies that monies in the Fund are continuously appropriated and are exempt from lapsing, and permits Fund monies to be used to provide grants for psilocybin clinical trials. Arizona Psilocybin Advisory Board.

WHY IT MATTERED: The practical reason for this bill was to put public resources toward the named state purpose through an accountable appropriation. It would establish the Psilocybin Control and Regulation Fund (Fund) to be administered by DHS consisting of fees and civil penalties collected through the regulation of psilocybin, and would also specifies that monies in the Fund are continuously appropriated and are exempt from lapsing, rather than leave the current rule unchanged.