Massachusetts House and Senate both passed cannabis compromise legislation on Sunday that would set up a more equitable environment in the legal marijuana industry. Senate Bill 3096 is aimed at advancing diversity in the sector and regulating the host community agreement (HCA) between cannabis companies and municipalities, reported NBC Boston.
If the bill turns into law it would allocate 15% of the money in the Marijuana Regulation Fund, which is fueled by the state’s cannabis excise tax, various operational fees and industry penalties, to a new Social Equity Trust Fund. The task of the new fund would be to provide grants and loans to people from communities most affected by the drug war who are now interested in joining the cannabis industry.
