The Massachusetts Cannabis Social Equity Trust Fund, designed to aid entrepreneurs from communities most affected by prohibition, now boasts over $27 million.
By February 2024, the fund had received its first full annual transfer of $27.4 million, largely supporting businesses through grants ranging from $20,000 to $50,000.
A second round of funding is being developed, aiming to expand eligibility and offer enhanced support for operational and capital needs.
Federal Marijuana Reform On The Horizon?
With the upcoming U.S. presidential election, speculation around cannabis reform is intensifying. VP and presidential candidate Kamala Harris, a proponent of cannabis legalization, is seen by some lawmakers as likely to advance marijuana reform bills if elected.
Senators and representatives from key states say a Harris-Walz administration would embolden further state-level legalization efforts.
However, skepticism remains about the potential for federal change, especially if former President Trump, with his mixed track record on cannabis, prevails.
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"I think she'll be very supportive" of cannabis reform, Sen. Jeff Merkley (D-OR), sponsor of a bipartisan marijuana banking bill, told Marijuana Moment. "If we can get these bills through, she'll be ready to sign them."
Sacramento And Nebraska Hit Pause On Cannabis And Hemp Measures
In Sacramento, a proposal to increase the number of cannabis dispensaries by 50% has been halted due to concerns about market saturation. The city council’s law and legislation committee advised expanding zoning options before greenlighting more dispensaries.
Meanwhile, in Nebraska, lawmakers removed a proposed tax levy on hemp and CBD products from a property tax relief bill, offering a reprieve to the state's growing hemp industry.
This decision comes as part of broader efforts to tackle property tax challenges, with Governor Jim Pillen (R) advocating for deeper cuts despite limited legislative progress.
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