Illinois House Bill 2992 was introduced, proposing a regulatory framework for the supervised therapeutic use of psilocybin.

At 164 pages currently, there is a wide range of stipulations within the bill. The bill would establish the Illinois Psilocybin Advisory Board within the Department of Financial and Professional Regulation, with oversight from multiple state agencies. It also includes a 15% tax on psilocybin purchases.

The Act aims to expand access to behavioral health treatments, promote public education and first responder training, and ensure safe, affordable, and equitable psilocybin services, particularly for underserved communities. It also establishes licensing for manufacturing and distribution while preventing unauthorized use and interstate diversion. If enacted, the bill would take effect immediately.