OPC 5 Public Policy Evaluation 5 FISCAL IMPACT OF THE BILL THAT ESTABLISHES A REGULATORY FRAMEWORK FOR THE PRODUCTION, INDUSTRIALIZATION AND COMMERCIALIZATION CHAIN OF THE CANNABIS PLANT, ITS SEEDS AND DERIVED PRODUCTS FOR INDUSTRIAL OR MEDICINAL USE

FISCAL IMPACT OF THE BILL THAT ESTABLISHES A REGULATORY FRAMEWORK FOR THE PRODUCTION, INDUSTRIALIZATION AND COMMERCIALIZATION CHAIN OF THE CANNABIS PLANT, ITS SEEDS AND DERIVED PRODUCTS FOR INDUSTRIAL OR MEDICINAL USE

July 19, 2021

The Bill establishes a Regulatory Framework for the production, industrialization and commercialization chain of the cannabis plant, its seeds, and derived products for industrial or medicinal use, for which purpose it provides for the creation of the Regulatory Agency of the Hemp and Medicinal Cannabis Industry (ARICCAME), as a decentralized agency that will operate under the Ministry of Productive Development.

To measure the fiscal impact of the project, it is assumed that ARICCAME will start operating in the fiscal year 2022, since there are still steps to be taken in the legislative process for its approval and it requires the subsequent regulation by the Executive Power.

Given the experiences in other countries, no revenues are expected for the first year of operation of the Agency. On the expenditure side, an amount of ARS159.1 million is estimated for the next fiscal year.

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