H184 — An Act delivering a fair share of cannabis revenue to communities harmed by the war on drugs

Summary

An Act delivering a fair share of cannabis revenue to communities harmed by the war on drugs

Bill Text

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The bill modifies provisions related to the Cannabis Social Equity Trust Fund and its operations, including funding allocations and organizational structure.

• Section 14(b) of chapter 94G

  15 → 18

  Changes the percentage from 15 to 18 during the allocation of funds.

• Section 14(b) of chapter 94G

  an amount equal to 12 per cent of the revenue deposited in the fund in the prior fiscal year shall be transferred to the Cannabis Social Equity Trust Fund established in Section 14A for Social Equity Business technical assistance programs and support for socially or economically disadvantaged ancillary businesses, which may include, but shall not be limited to, businesses owned by people who have been arrested for a marijuana-related offense or their immediate family members, minority-owned, women-owned, veteran-owned, worker-owned, or immigrant-owned microbusinesses and small businesses that have historically faced obstacles to accessing capital, provided further that 10 per cent of the revenue deposited in the fund in the prior fiscal year shall be transferred to the executive office of economic development to administer a community empowerment and reinvestment grant program, provided further that 5 per cent of the revenue deposited in the fund in the prior fiscal year shall be transferred to the Cannabis Social Equity Trust Fund established in section 14A to provide matching grants to municipal equity funds, provided further that 5 per cent of the revenue deposited in the fund in the prior fiscal year shall be transferred to the Cannabis Control Commission for its Social Equity Program and implementation of procedures and policies to promote and encourage full participation in the regulated marijuana industry by people from communities that have previously been disproportionately harmed by marijuana prohibition and enforcement and to positively impact those communities.

  Establishes new allocations for the Cannabis Social Equity Trust Fund and related programs.

• Section 14A(a) of chapter 94G

  and organizations that support their businesses and workforces. Grant and loan programs for businesses and nonprofit organizations may fund technical assistance projects on behalf of Social Equity Businesses and general operating support to socially or economically disadvantaged ancillary businesses, which may include, but shall not be limited to, minority-owned, women-owned, veteran-owned, and immigrant-owned microbusinesses and small businesses, that have historically faced obstacles to accessing capital, and that have a demonstrated experience supporting cannabis businesses, including annual grants of not less than $250,000 to The EON Foundation, not less than $500,000 to the Coalition for an Equitable Economy, and not less than $500,000 to Mass CultivatED.

  Expands the scope of grant and loan programs to include support for organizations that assist social equity businesses.

• Section 14A(b) of chapter 94G

  2 persons → 3 persons

  Increases the required number of board members from 2 to 3.

• Section 14A(b) of chapter 94G

  with one designated ancillary business representative

  Adds a requirement for one board member to represent ancillary businesses.

• Section 14A(c) of chapter 94G

  5 → 2

  Reduces the number of required social equity business representatives from 5 to 2.

• Section 14A(c) of chapter 94G

  ancillary organizations

  Incorporates ancillary organizations into the requirements for social equity businesses.

• Section 14A(c) of chapter 94G

  from receipt of a Provisional License from the Cannabis Control Commission

  Adds a stipulation regarding the timing of representation from social equity businesses.

Sponsors

• Chynah Tyler · Primary

Subjects