Deadline extended for Massachusetts cannabis equity advisory board
The state of Massachusetts has extended its search for candidates to consult with the Executive Office of Housing and Economic Development on the newly created Cannabis Social Equity Trust Fund. The Massachusetts Governor, Attorney General, and State Treasurer are collectively responsible for appointing five individuals to serve on this board. The deadline was originally November 1st but that has since been extended to November 15th. Massachusetts law requires that initial appointments to the cannabis social equity advisory board be made by January 8, 2023.
This trust fund and advisory board were created as part of new legislation passed by lawmakers and signed by Governor Baker this summer. Certified Economic Empowerment Priority applicants and Social Equity Program participants are eligible to receive grants and loans, including no-interest loans and forgivable loans through the trust fund in an effort to level the playing field in the cannabis industry. According to the call for applications Equity Advisory Board members must be from, or have experience advocating for, areas disproportionately impacted by the war on drugs. Other qualifications include background in the cannabis industry, finance or commercial lending, business development or entrepreneurship. Those who are chosen are asked to serve a five year term without receiving a salary, stipend, or other compensation for their service.