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. The bill emphasizes the need for members to have professional backgrounds in social justice, civil rights, and economic development, particularly for minority-owned businesses, and aims to reflect the state's diversity. It introduces provisions for the removal of council members who do not attend meetings, allowing for removal by a simple majority vote. The bill also deletes the previous definition of "equity" and expands the council's authority to promote participation in the cannabis industry by communities disproportionately affected by cannabis prohibition, empowering the council to request information from state agencies, enter contracts, hold public hearings, and adopt necessary regulations.

Additionally, the bill mandates the council to investigate the consequences of cannabis criminalization and make recommendations for equitable access to cannabis licenses by January 1, 2022. It introduces new requirements for licensed cannabis establishments to maintain active social equity plans and report annually on their impact. The council will review these reports and may request revisions to ensure alignment with equity principles. The bill also establishes a revolving loan program to support social equity applicants, detailing eligibility and application processes, and allows for administrative enforcement of regulations related to cannabis establishments, with potential fines for violations. Overall, the legislation aims to enhance social equity in the cannabis industry while ensuring accountability and ethical standards within the council.

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