Sec. 3. Level the economic playing field
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/bill/116/s/1552/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
On an annual basis, the Secretary of the Treasury shall make a reasonable estimate of total tax revenue generated by the marijuana industry for the previous 12-month period. The Secretary of the Treasury shall transfer from the general fund of the Treasury to the trust fund established under subsection
(c)the greater of— an amount equal to 10 percent of the amount estimated under subsection (a); and $10,000,000. There is established in the Treasury of the United States a trust fund to be known as the Marijuana Opportunity Trust Fund, which shall consist of amounts transferred under subsection (b). Amounts in the trust fund established under paragraph
(1)shall be made available to the Administrator of the Small Business Administration to provide loans under section 7(m) of the Small Business Act ( 15 U.S.C. 636(m) ) to assist— small business concerns owned and controlled by women, as defined in section 3 of that Act ( 15 U.S.C. 632 ), that operate in the marijuana industry; and small business concerns owned and controlled by socially and economically disadvantaged individuals, as defined in section 8(d)(3)(C) of that Act ( 15 U.S.C. 637(d)(3)(C) ), that operate in the marijuana industry.
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