This bill amends various sections of the Minnesota Statutes related to cannabis, specifically focusing on employee stock ownership plans and the limitations on the number of licenses that individuals and businesses can hold in the cannabis industry. Notably, it introduces the definition of "Employee stock ownership plan" as a contribution plan defined in the United States Code, and clarifies the roles of trustees in managing these plans. The bill also expands the definition of "true party of interest" to include trusts and employee stock ownership plans, thereby allowing for greater participation in the cannabis business sector.

Additionally, the bill modifies the limitations on the number of licenses that individuals, cooperatives, or businesses can hold. It specifies that trustees of employee stock ownership plans and employees of businesses owned by such plans are exempt from certain restrictions on holding multiple licenses. The amendments also clarify that restrictions on the number or type of licenses apply to all cooperative members and directors, managers, and general partners of cannabis businesses. Overall, the bill aims to enhance the regulatory framework surrounding cannabis businesses while promoting employee ownership and participation.

Statutes affected:
Introduction: 342.185, 342.28, 342.29, 342.30, 342.31, 342.32, 342.33, 342.35