§ 987.
166 words·~1 min read·
/vt/title-7/chapter-39/987A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 987. Cannabis Business Development Fund
(a)There is established the Cannabis Business Development Fund, which shall be managed in accordance with 32 V.S.A. chapter 7, subchapter 5.
(b)The Fund shall comprise:
(1)a one-time contribution of $50,000.00 per integrated license to be made on or before October 15, 2022; and
(2)monies allocated to the fund by the General Assembly.
(c)The Fund shall be used for the following purposes:
(1)to provide low-interest rate loans and grants to social equity applicants to pay for ordinary and necessary expenses to start and operate a licensed cannabis establishment;
(2)to pay for outreach that may be provided or targeted to attract and support social equity applicants;
(3)to assist with job training and technical assistance for social equity applicants; and
(4)to pay for necessary costs incurred in administering the Fund.
(d)Amounts from loans that are repaid shall provide additional funding through the Fund. (Added 2021, No. 62, § 12, eff. June 7, 2021.)