The California Assembly passed the third reading of SB-1294 Cannabis: state and local equity programs. The enacts the Cannabis Equity Act of 2018, which provides local jurisdictions with funding for assistance from the Bureau of Cannabis Control to help local equity applicants and licensees identified by the jurisdiction. The funding can help cover small business support services to those persons from economically disadvantaged communities that are negatively impacted by cannabis production. Assistance can also be structured in the form of (1) tiered or waived fees, (2) help obtaining a business establishment, (3) assistance in obtaining capital investment, and (4) recruitment, training and retention of disadvantaged workers.
The bill also requires the Bureau to, on or before July 2019, to (1) publish all approved local equity ordinances and model equity ordinances created by advocacy groups or experts, and (2) publish a report to the California Legislature on the progress of the programs that received funding.
Readers should note that Massachusetts published guidance yesterday that included the state’s recommendations for local equity programs. The link below provides additional detail.
MA Guidance: Creating an Equitable Industry