The bill establishes the operational framework for the Cannabis Social Equity Trust Fund (CSETF) for the fiscal year 2025, managed by the Executive Office of Economic Development (EOED) in partnership with the Cannabis Social Equity Advisory Board. It requires an annual legislative report that details the fund's expenditures, the entities receiving support, their geographic locations, and their minority ownership status. Additionally, the bill introduces an online donations portal to encourage contributions to the fund, which is designed to assist entrepreneurs from communities negatively impacted by marijuana prohibition. The report also outlines the FY25 Social Equity Grant Program, which allocated $26.5 million to 181 social equity businesses, with a total fund of $56.3 million at the beginning of FY25.

Furthermore, the bill introduces new designations and funding allocations for social equity businesses, categorizing them into "Tier 3" and "Tier 4" with funding amounts of $250,000 and $500,000, respectively. This initiative aims to promote economic empowerment for minority-owned, women-owned, and disadvantaged businesses. The bill emphasizes diversity and inclusion by designating many of these businesses as Minority Business Enterprises (MBE), Women Business Enterprises (WBE), and Disadvantaged Business Enterprises (DBE), with some receiving dual designations. Overall, the legislation seeks to enhance economic opportunities for underrepresented groups in the cannabis industry while ensuring that funding aligns with social equity objectives.