The bill proposes significant amendments to New Jersey's cannabis regulations, focusing on the application and licensing processes for cannabis sales. Key changes include the introduction of nonrefundable application fees, a requirement for the Cannabis Regulatory Commission to make determinations on permit applications within specified timeframes, and a mandate that at least one-third of total permits for medical cannabis be conditional. The bill also emphasizes the importance of microbusinesses by ensuring that at least 10% of total permits are designated for them, while also outlining specific requirements for clinical registrant permits, including contracts with academic medical centers and minimum capital requirements. Additionally, the bill prioritizes applications from "impact zones" and mandates that a minimum of 25% of licenses be awarded to applicants who have resided in these areas for three or more consecutive years.

Further amendments clarify the authority of municipalities regarding local licensing and endorsement requirements, allowing them to impose separate regulations on cannabis businesses. The bill also introduces a stamp system for tracking cannabis products, establishes guidelines for the sale and advertising of cannabis, and provides alternative treatment centers with greater flexibility in holding multiple licenses. Notably, it removes certain application requirements, such as the business plan and management operation profile, while emphasizing the need for labor peace agreements. Overall, the legislation aims to streamline the licensing process, enhance regulatory oversight, and promote equitable access to cannabis licenses, particularly for socially and economically disadvantaged communities.

Statutes affected:
Introduced: 24:6I-7.1, 24:6I-7.3, 24:6I-36, 24:6I-45, 24:6I-35, 24:6I-46, 24:6I-22