KUAR | By Hunter Field / Arkansas Advocate
Arkansas will send $100 million in reserve funds over the next two years to the University of Arkansas for Medical Sciences’ pursuit of recognition from the National Cancer Institute, known as NCI designation.
But that doesn’t mean the 4% privilege tax on medical marijuana that had funded the NCI efforts will go away. Instead, state policymakers enacted legislation to extend the tax for at least two more years and dedicate those revenues to food insecurity and public health needs.
State officials hope the $50 million transfers to UAMS in fiscal 2024 and 2025 will further strengthen the institute’s chances for success when it formally requests NCI designation.
