(1) (a) A marijuana research and development license may be issued to a person to possess marijuana for the limited research purposes identified in subsection (2) of this section.

(b) A marijuana research and development cultivation license may be issued to a person to grow, cultivate, possess, and transfer, by sale or donation, marijuana pursuant to section 44-11-202 (2)(a)(XXVI) or subsection (4) of this section for the limited research purposes identified in subsection (2) of this section.

(2) A license identified in subsection (1) of this section may be issued for the following limited research purposes:

(a) To test chemical potency and composition levels;

(b) To conduct clinical investigations of marijuana-derived medicinal products;

(c) To conduct research on the efficacy and safety of administering marijuana as part of medical treatment;

(d) To conduct genomic, horticultural, or agricultural research; and

(e) To conduct research on marijuana-affiliated products or systems.

(3) (a) As part of the application process for a marijuana research and development license or marijuana research and development cultivation license, an applicant shall submit to the state licensing authority a description of the research that the applicant intends to conduct and whether the research will be conducted with a public institution or using public money. If the research will not be conducted with a public institution or with public money, the state licensing authority shall grant the application if it determines that the application meets the criteria in subsection (2) of this section.

(b) If the research will be conducted with a public institution or public money, the scientific advisory council established in section 25-1.5-106.5 (3) shall review an applicant's research project to determine that it meets the requirements of subsection (2) of this section and to assess the following:

(I) The project's quality, study design, value, or impact;

(II) Whether the applicant has the appropriate personnel; expertise; facilities; infrastructure; funding; and human, animal, or other approvals in place to successfully conduct the project; and

(III) Whether the amount of marijuana to be grown by the applicant is consistent with the project's scope and goals.

(c) If the scientific advisory council determines that the research project does not meet the requirements of subsection (2) of this section or assesses the criteria in this subsection (3) to be inadequate, the application must be denied.

(4) A marijuana research and development cultivation licensee may only transfer, by sale or donation, marijuana grown within its operation to other marijuana research and development licensees or marijuana research and development cultivation licensees. The state licensing authority may revoke a marijuana research and development cultivation license for violations of this subsection (4) and any other violation of this article 11.

(5) A marijuana research and development licensee or marijuana research and development cultivation licensee may contract to perform research in conjunction with a public higher education research institution or another marijuana research and development licensee or marijuana research and development cultivation licensee.

(6) The growing, cultivating, possessing, or transferring, by sale or donation, of marijuana in accordance with this section and the rules adopted pursuant to it, by a marijuana research and development licensee or marijuana research and development cultivation licensee, is not a criminal or civil offense under state law. A marijuana research and development license or marijuana research and development cultivation license must be issued in the name of the applicant and must specify the location in Colorado at which the marijuana research and development licensee or marijuana research and development cultivation licensee intends to operate. A marijuana research and development licensee or marijuana research and development cultivation licensee shall not allow any other person to exercise the privilege of the license.

(7) If the research conducted includes a public institution or public money, the scientific advisory council shall review any reports made by marijuana research and development licensees and marijuana research and development cultivation licensees under state licensing authority rule and provide the state licensing authority with its determination on whether the research project continues to meet research qualifications pursuant to this section.