Advocates applaud Legislature, Gov. Healey for advancing cannabis equity grant and loan program
Closeout FY23 supplemental budget will unlock tens of millions of dollars for grants & loans to cannabis equity businesses
BOSTON — Advocates are praising the Massachusetts House and Senate for passing, and Gov. Maura Healey for signing, a FY23 closeout supplemental budget that will enable tens of millions of dollars in cannabis tax revenue to be reinvested in communities disproportionately harmed by the war on drugs through a grant and loan program for cannabis equity businesses.
Language in the new law will enable the state’s Comptroller to transfer revenue from the Marijuana Regulation Fund to the Cannabis Social Equity Trust Fund, which has been awaiting a transfer since its creation in 2022.
Equitable Opportunities Now (EON) Co-Founder Shanel Lindsay is an attorney and owner of Ardent Cannabis, an ancillary marijuana business. Lindsay, who helped draft Question 4 and has advocated for the fund’s creation for more than five years, praised the news, saying:
“The law passed by the Legislature and signed by Gov. Maura Healey today will unlock millions of dollars in grants and loans to cannabis equity businesses. This is an important step toward creating economic opportunity for communities harmed by the war on drugs, as envisioned by voters when they passed Question 4.
“We appreciate all the work that Gov. Healey’s Administration has done in preparation for the launch of the Cannabis Social Equity Trust Fund and hope they will work quickly to roll out a simple, transparent, user-friendly application process as soon as possible.”
The Executive Office of Economic Development (EOED) has been working in consultation with the Cannabis Social Equity Advisory Board to develop an application process, selection criteria, rules, and other details in anticipation of opening an initial grant application process after the funds have been transferred.
“We are grateful to Gov. Maura Healey, Speaker Ron Mariano, Senate President Karen Spilka, Ways & Means Chairs Rep. Aaron Michlewitz and Sen. Michael Rodrigues, Cannabis Policy Chairs Rep. Dan Donahue and Sen. Adam Gomez and their colleagues for their ongoing commitment to creating a more equitable cannabis industry,” said EON Co-Founder Shanel Lindsay.
EOED informed the community-led advisory board that it anticipates making grants of up to $100,000 to eligible cannabis social equity businesses with at least a provisional license from the state’s Cannabis Control Commission during its initial round of grant applications during a recent public meeting.
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Equitable Opportunities Now (EON)’s mission is to ensure equitable ownership and employment opportunities for Black and Brown communities who have been targeted by the War on Drugs. We are seeking general support funding for our constituent-led statewide legislative and regulatory advocacy campaigns to create equitable economic opportunities in MA’s cannabis industry. Learn more at www.masseon.com