An Act protecting cannabis equity businesses by enforcing ownership limits
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to protect cannabis equity businesses in Massachusetts by establishing and enforcing limits on ownership. The legislation seeks to prevent concentrated ownership structures that could hinder the success of businesses owned by individuals disproportionately affected by past cannabis prohibition. By setting ownership restrictions, the bill intends to promote a more equitable and diverse cannabis industry within the state. It is intended to support businesses that have been historically excluded from the legal cannabis market.
Key provisions
- Establishes limits on the percentage of ownership allowed in cannabis equity businesses.
- Defines ‘cannabis equity business’ based on specific criteria related to past cannabis-related offenses.
- Creates a process for monitoring and enforcing ownership limits.
- Requires cannabis equity businesses to demonstrate compliance with ownership restrictions.
Who is affected
- Cannabis equity businesses
- Investors in cannabis equity businesses
- The cannabis industry in Massachusetts
- Massachusetts residents
Notable changes
- This bill introduces specific regulations regarding ownership limits for cannabis equity businesses.
- It builds upon existing efforts to support the cannabis equity industry.
Bill text
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Sponsors
Official sponsors from legislative records.
5 on record
Primary sponsor
Cosponsors
David Henry Argosky LeBoeuf
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