Bill > H158

This bill aims to promote social equity and economic empowerment in the cannabis industry. It does this by: 1. Defining "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 Cannabis Control Commission to provide training and technical assistance to eligible applicants, potential applicants, and licensees from communities disproportionately harmed by marijuana prohibition and enforcement. 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 the Cannabis Social Equity Loan Trust Fund, which will provide no-interest loans, forgivable loans, or grants to economic empowerment and social equity program participants to encourage the participation of entrepreneurs from communities disproportionately impacted by previous marijuana prohibition and enforcement. The fund will be administered by the Secretary of Housing and Economic Development and funded by up to 25% of the Cannabis Excise Tax revenue and private funds.

Health and Social Services

https://malegislature.gov/Bills/192/H158