(1) There is created within the General Fund a restricted account known as the "Cannabinoid Proceeds Restricted Account."
(2) The Cannabinoid Proceeds Restricted Account consists of:
(a) revenue collected from the tax imposed by Section 59-31-301; and
(b) amounts appropriated by the Legislature.
(3) Subject to appropriation, money in the account may be used for the following:
(a) enforcement of Title 4, Chapter 41, Hemp and Cannabinoid Act by the Department of Agriculture and Food;
(b) investigations described in Section 77-39-101, regarding cannabinoid products;
(c) the Industrial Hemp Grant Program created in Section 63N-3-1302; and
(d) provided to counties, cities, and towns in proportion to the county's, city's, or town's distribution under Section 59-12-205 for the preceding fiscal year.