SB 3785

Abstract

Amends the Cannabis Regulation and Tax Act. Provides that the Cannabis Business Development Fund may be used to provide financial assistance that supports lending to or private investment in qualified Social Equity Applicants and Social Equity Lottery Licensees or facilitates access to the facilities needed to commence operations on a cannabis business establishment. Provides that the Department of Commerce and Economic Opportunity may enter into financial agreements to facilitate lending to or investment in qualified Social Equity Applicants or Social Equity Lottery Licensees, or their subsidiaries or affiliates, to ensure the availability of facilities necessary to operate a cannabis business establishment. Provides that notwithstanding anything in the confidentiality provisions of the Act to the contrary, the Department of Financial and Professional Regulation and the Department of Agriculture may share licensee information with the Department of Commerce and Economic Opportunity necessary to support the administration of Social Equity programming.