On Wednesday afternoon, Governor Jerry Brown signed into law the California Cannabis Equity Act (SB 1294), authored by Sen. Steven Bradford and sponsored by the Drug Policy Alliance. With his signature, Brown approved the distribution of grants to cities with local cannabis equity programs – such as Los Angeles, Oakland, Sacramento, and San Francisco – that assist persons most harmed by cannabis prohibition and generational poverty enter the cannabis industry. The grants will be used to offer equity applicants and licensees business loans or grants, licensing fee waivers, technical assistance, and other supportive services. SB 1294 reflects a nationwide movement to ensure that this growing industry is representative and accessible to all persons, no matter their financial or criminal history background.
Here is a statement from Rodney Holcombe, Office of Legal Affairs, Drug Policy Alliance:
“The passage of SB 1294 is an important step toward creating more equity in California’s cannabis industry. Senator Bradford’s bill – and the $10 million allocated for it – will support local programs that are minimizing barriers to ownership and ensuring the sustainability of cannabis businesses. It is our hope that this will be the first of many victories to ensure equity in this growing industry.”
For more background on this bill, visit Leg Info.