Massachusetts lawmakers OK measure to provide capital to social equity Cannabis Licensees
Massachusetts Governor Charlie Baker is expected to sign into law S.3096, a measure aimed at supporting the 900 people harmed by the War on Drugs that have been enrolled in the commonwealth's social equity program as well as future members of the program.
The measure sets aside 15% of the revenue in the state's marijuana regulation fund generated by cannabis businesses to provide capital to social equity licensees. Cities and towns would have to prioritize equity applicants. The measure also includes language to pave the way for municipalities to incorporate social consumption lounges into communities for the first time.
"This law-codified in the context of many years of racial inequality - now stands to serve the very participants who are most in need of the financial resources to open their doors, kickstart their business, and maintain equity and control of their companies," said Nurys Camargo, a member of the Massachusetts cannabis control commission. The state Senate OK'd the measure over the weekend.
