HB 5307 introduces the Texas Regulation of Cannabis Act, which legalizes and regulates the cultivation, sale, possession, and use of cannabis for adults 21 and older. The bill establishes licensing requirements for cannabis-related businesses, including growers, processors, retailers, and testing facilities. It also imposes a 10% sales tax on cannabis products, with revenue allocated to regulation, quality control, local government oversight, and child-care services. Additionally, the bill provides for the expunction of criminal records related to certain cannabis offenses committed before legalization​.