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2022 SESSION

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HB 176 Cannabis control; vertical integration, social equity.

Introduced by: Daniel W. Marshall, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Cannabis control; vertical integration; social equity. Requires the Board of Directors of the Virginia Cannabis Control Authority (the Board) to promulgate regulations that allow to qualify as a social equity applicant, and therefore receive certain licensing preferences and advantages, any applicant that has lived or been domiciled for at least 12 months in the Commonwealth and whose principal place of business is, and was prior to July 1, 2021, located in a jurisdiction determined by the Board to be economically distressed. The bill also provides that, if an act of assembly is passed by the 2022 Session of the General Assembly that creates licenses to allow for the cultivation, manufacture, wholesale, and retail sale of retail marijuana and retail marijuana products in the Commonwealth, any industrial hemp processor that meets certain registration, program, and production requirements set forth in the bill shall be permitted to possess one or any combination of such licenses upon payment of a $1 million fee to the Board and submission of and compliance with a diversity, equity, and inclusion plan.


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