New York’s Marijuana Regulation and Tax Act: Equity Plan and Social & Economic Equity Applicants

CANNANNEW REPORT

  This post focuses on New York’s Cannabis Equity Plan and provisions in New York’s Marijuana Regulation and Taxation Act (MRTA) designed to promote Social and Economic Equity Applicants. As with our recent NY cannabis posts, I’ve included the relevant MRTA section (§) to help you locate the specific statutory language that I’m referencing (use <cntrl-F> to find it quicker). Purpose The purpose of New York’s Equity Plan is: to actively promote applicants from communities disproportionately impacted by cannabis prohibition, and promote racial, ethnic, and gender diversity when issuing licenses for adult-use cannabis related activities, including mentoring potential applicants, by prioritizing consideration of applications by applicants who are from communities disproportionately impacted by the enforcement of cannabis prohibition or who qualify as a minority or women-owned business, distressed farmers, or service-disabled veterans. (§ 87-1) Defining Equity Applicant So, who qualifies as an Equity Applicant? New York’s Cannabis Control Board (CCB) will determine the specific criteria for Equity Applicants, but we can expect it will track MRTA’s statutory purpose and definitions. MRTA defines each of the bold terms above. For example: Communities disproportionately impacted means: a history of arrests, convictions, and other law enforcement practices in a certain geographic area, such as, but not limited to precincts, zip codes, neighborhoods, and political subdivisions, reflecting a disparate enforcement of cannabis prohibition during a certain time period, when compared to the rest of the state (§ 87-3(g)) A minority-owned or women-owned business is one that is at least 51% owned by one or more minority group members or women, in which such ownership is “real, substantial and continuing” and exercises “the authority to control independently the day-to-day business decisions” of the business (§87-5(a)) A minority group member is a person who is Black, Hispanic, Native American, Asian and Pacific Islander (§87-5(b)(i-iv)) “Extra priority” is to be given to an Equity Applicant who: (1) is a member of a community disproportionately impacted…

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Source : New York’s Marijuana Regulation and Tax Act: Equity Plan and Social & Economic Equity Applicants

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