Substitute House Bill No. 6930 establishes the Social Equity Council within the Department of Economic and Community Development, comprising seventeen members appointed by various legislative leaders and the Governor, with a focus on reflecting the state's racial, gender, and geographic diversity. The council is responsible for developing bylaws, overseeing budget allocations, and promoting equity, particularly in the cannabis industry. Key changes include the deletion of specific definitions of equity and the removal of provisions regarding member resignations due to attendance, replaced by a simple majority vote for removal. The council is empowered to request information from state agencies, enter contracts, and accept donations, while also promoting participation in the cannabis industry from communities adversely affected by cannabis prohibition.

The bill mandates the council to conduct a comprehensive study on the impacts of cannabis prohibition and make recommendations for programs ensuring equal access to cannabis licenses for affected individuals. It introduces requirements for licensed cannabis establishments to maintain active social equity plans and submit annual reports on their community impact. The council will review these reports and may request revisions. Additionally, the bill establishes a revolving loan program to support social equity applicants, modifies regulations regarding the sale of cannabis establishment licenses, and streamlines the application process by requiring decisions within 120 days of submission. Overall, the bill aims to enhance social equity through strategic planning, support for minority-owned businesses, and improved access to the cannabis industry.

Statutes affected:
Raised Bill:
GL Joint Favorable:
File No. 592:
File No. 811:
Public Act No. 25-137: