Bill > HB5582

This bill amends the Cannabis Regulation and Tax Act to provide additional fee and financial requirement waivers for Social Equity Applicants, which are individuals or businesses seeking to enter the cannabis industry who have been disproportionately impacted by past drug policies. Specifically, it requires a 50% waiver of nonrefundable license application fees, fees for purchasing a license, and surety bond or other financial requirements if the applicant promises to open and operate their cannabis business in a Disproportionately Impacted Area (an area that has suffered from high rates of cannabis arrests and convictions) and commits to hiring at least 40% of their employees and contracted labor from residents of that same area. A failure to uphold these promises will be considered a violation of the Act. The bill also clarifies that Social Equity Applicants who qualify for waivers under both existing provisions and these new provisions cannot combine them; they must choose only one waiver option.

https://www.ilga.gov/Legislation/BillStatus?DocNum=5582&GAID=18&DocTypeID=HB&SessionID=114&GA=104