The bill amends the Rhode Island Cannabis Act by introducing several key provisions related to cannabis licensure, the social equity assistance program, and the application of cannabis tax revenue. It includes a new section defining terms relevant to the act, such as "adult use cannabis," "cannabis establishment," and "social equity applicant."

The bill mandates that all applicants for cannabis licenses undergo a national criminal background check, requiring fingerprint submission to the FBI and truthful disclosure of any prior criminal convictions. Importantly, it clarifies that individuals will not be automatically disqualified from obtaining a cannabis-related license due to prior cannabis possession convictions, unless those convictions involve distribution to minors or are substantially related to the occupation.

Additionally, the bill establishes a dedicated social equity assistance fund and a disproportionately impacted areas investment fund, both of which will be funded by a portion of cannabis tax revenue. For the first five years, seventy-five percent of the allotted state cannabis excise tax will be deposited into the social equity assistance fund, with twenty-five percent allocated to the disproportionately impacted areas investment fund. After this initial period, the allocation will shift to an equal split of fifty percent for each fund in perpetuity.

The bill emphasizes the importance of supporting communities adversely affected by cannabis law enforcement through targeted funding for initiatives such as public housing, education, health subsidies, and other community development programs. It also specifies that certain criminal records, including juvenile adjudications and expunged convictions, shall not be used in connection with licensing decisions.

The act is set to take effect immediately upon passage.

Statutes affected:
5829: 44-70-5