The bill amends the Rhode Island Cannabis Act by updating definitions and clarifying terms such as "Adult use cannabis," "Applicant," "Cannabis testing laboratory," and "Disproportionately impacted areas," among others. It specifies the roles and qualifications of entities in the cannabis industry and revises the criteria for being considered a "social equity applicant." The bill includes insertions, such as the requirement for approved licensees to pay an annual social equity status fee of $500,000, and deletions, such as the removal of the residency requirement for social equity applicants.

The bill also details the powers and duties of a commission responsible for overseeing the cannabis industry, including licensing, regulation, and enforcement. It mandates national criminal background checks for applicants and changes the language regarding the use of criminal records in licensing decisions, aiming to reduce barriers for individuals with prior convictions. A new section establishes a Social Equity Assistance Program and Fund to support individuals and communities most affected by cannabis-related law enforcement. The bill proposes changes to the distribution of cannabis tax revenue, with a focus on social equity and investment in disproportionately impacted areas, and removes certain allocations to the marijuana trust fund. The act will take effect upon passage.

Statutes affected:
7855: 44-70-5