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 conjunction with the Cannabis Social Equity Advisory Board. It requires an annual legislative report that details the fund's expenditures, grant recipients, and demographic data of the supported entities. For FY25, the CSETF received $56,291,544, with $29,001,226 sourced from the Marijuana Regulation Fund and $12,001 in donations. The EOED allocated $26,500,000 in grants to 181 social equity businesses, with funding amounts based on the applicants' license status and business development stage.

Additionally, the bill introduces new provisions regarding the membership of the Cannabis Social Equity Advisory Board and establishes an online donations portal for the CSETF, launched on April 10, 2025. The Advisory Board, composed of advocates for communities impacted by marijuana prohibition, convened twice to discuss program guidelines and grant awards. The bill also expands the list of eligible businesses for funding, including new classifications such as Minority Business Enterprises (MBE), Women Business Enterprises (WBE), and LGBTQBE, thereby promoting diversity and economic empowerment within the cannabis industry. Each business classified as a Social Equity Business can receive grants of either $250,000 or $500,000 based on their tier classification, reflecting a commitment to supporting historically marginalized groups in accessing economic opportunities.