Massachusetts cannabis equity businesses get state money after years of waiting

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Cannabis social equity businesses are finally set to see an infusion of state money after years of waiting.

The Healey-Driscoll administration announced Tuesday that 50 grants, ranging from $20,000 to $50,000, have been distributed to Massachusetts cannabis businesses through the Cannabis Social Equity Trust Fund.

The Cannabis Social Equity Trust Fund was created in August 2022 as part of a major cannabis bill. The fund was intended to collect 15% of marijuana sales taxes in order to help entrepreneurs from communities disproportionately harmed by the war on drugs.

But a year later, the fund was still empty due to problems with how the money could be transferred. In September, Gov. Maura Healey included a fix for that transfer mechanism as part of her fiscal 2023 supplemental budget, which was signed in early December. 

More on this story from Boston Business Journal

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