This bill amends Minnesota Statutes 2024, section 342.185, subdivision 1, to modify the definition of "true party of interest" in relation to cannabis businesses. The key change is the exclusion of municipal cannabis stores from this definition, which allows for greater flexibility in the operation and management of these stores. The bill clarifies various terms related to cannabis businesses, including "control," "financial institution," "financier," "gross profit," and "revenue," ensuring that the legal framework surrounding cannabis operations is clear and comprehensive.

Additionally, the bill introduces new provisions that specify what constitutes a true party of interest, including various forms of business entities and contractual agreements. Notably, it allows for individuals who contract with a city or county to operate a municipal cannabis store to be excluded from the definition of a true party of interest. This change aims to streamline the regulatory process for municipal cannabis stores and promote local governance in the cannabis industry.

Statutes affected:
Introduction: 342.185