Bill > S2650

This bill aims to ensure full participation in the marijuana industry. It does this by: 1. Defining a "Social Equity Business" as a marijuana establishment eligible for the Social Equity Program or the Economic Empowerment Program, and defining the "Social Equity Program" as a program administered by the Commission to provide training and technical assistance to eligible applicants and licensees from communities disproportionately harmed by marijuana prohibition. 2. Requiring that not less than 2% of the funds generated by application, license, and renewal fees go directly to funding the Social Equity Program through the Social Equity Fund, and allowing municipalities that create their own social equity program to apply to the fund. 3. Establishing a Cannabis Social Equity Loan Trust Fund to make no-interest loans to economic empowerment and social equity program participants, to be funded by up to 10% of the Cannabis Excise Tax revenue and private funds. The overall goal is to promote the full participation of entrepreneurs from communities disproportionately impacted by previous marijuana prohibition and enforcement in the legal marijuana industry.

Budget and Finance

Joint Committee on Cannabis Policy (J)

https://malegislature.gov/Bills/191/S2650