Connecticut is expected to accept retail marijuana applications by next month
Connecticut Green ignited the state’s new marijuana retail industry on Tuesday.
At the end of January, residents can apply to grow or sell cannabis in Connecticut. The state’s Social Equity Council conditionally approved new rules on Tuesday.
Applicants will have 90 days to obtain documents, pending approval from the Connecticut Department of Consumer Protection. The window was originally 60 days, but council members feared that was not enough time. They also want new candidates to be better guided.
After the 90 day window, the winners will be drawn by lot.
âThere are a lot of white people living in IAD who haven’t had the same experience as I have,â said Andrew Allen of Bridgeport. Allen suggested initially limiting social equity licenses to people of color.
Applicants for social equity must prove that they are not a front for wealthy funders. The state wants tax returns and financial histories for investors, as well as loan and shareholder agreements. Applicants will also be required to submit detailed social equity and hiring plans.
âThe license fees are just too high for people who are trying to get, you know, regular people who are trying to enter the market and who have no business interests,â Olivia Rinkes said, from North Stonington.
The state’s Social Equity Council is committed to helping applicants cover start-up costs. But is the process too confusing?
âKnowledge is power. And it is essential that we explain and communicate to potential candidates what will be required, âsaid Christine Shaw, member of the Social Equity Council.