The bill proposes significant amendments to the governance and operational framework of the Cannabis Regulatory Commission in New Jersey, which oversees both medical and personal use cannabis. Key changes include a new appointment process for commission members, with five members appointed by the Senate President, the Speaker of the General Assembly, and the Governor, and the chair selected by a majority of the members rather than solely by the Governor. The bill also establishes specific qualifications for members, including a requirement for representation from social justice organizations, and sets their terms at five years. Additionally, it introduces a new salary structure for commission members, with the chair earning $165,000 and other members $160,000, while allowing them to hold local elected office under certain conditions.

Furthermore, the bill enhances conflict of interest regulations for commission members and employees, prohibiting them from acting on matters where they or their immediate family have a financial interest. It also allows for more transparency in the commission's operations by requiring logged meetings with external parties and clarifying that members can attend political events with prior notice. The bill introduces a structured regulatory framework for cannabis licensing, defining various cannabis-related entities and their licensing requirements, while prioritizing applications from "impact zones" and ensuring that a portion of licenses are designated for microbusinesses. Overall, the legislation aims to promote ethical governance, accountability, and equitable access within the cannabis industry in New Jersey.

Statutes affected:
Introduced: 24:6I-24, 24:6I-27, 52:13D-17.2, 24:6I-52, 24:6I-33, 24:6I-36, 24:6I-46, 24:6I-34, 24:6I-44, 24:6I-42