Colorado falls short in minority representation among business owners but advocates and industry leaders are trying to correct that – a difficult task in a highly competitive and well-established market – and hope social equity legislation. Colorado Gov. Jared Polis signed into law at the end of June that is suppose to help the minority owners. House Bill 20-1424 established an individual would be eligible to participate in the social equity program if the applicant or an immediate family member was arrested or convicted for a marijuana offense, or if the applicant lived in a designated economically distressed community for a minimum of 15 years between 1980 and 2010 or if their income is at or below an amount to be determined. Under the new rules, the tentative timeline is for regulators to accept social equity applications in January.
Marijuana Business Daily, 08/27/2020 06:30:59
Open article: https://mjbizdaily.com/minority-cannabis-ownership-negligible-in-colorado-but-new-law-aims-to-spur-progress/