Investor Presentaiton
Social equity
• As previously discussed, the enacted legislation contemplates a significant set-aside of retail licenses for so-called "social equity
applicants," which is meant to include two broad categories of applicants: those who have been convicted of a nonviolent marijuana
offense, or those who have or do reside in "disproportionately impacted areas" of Rhode Island.
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• However, the Commission has responsibility for promulgating the precise definitions and boundaries of these qualifying criteria;
the Cannabis Advisory Board is also empowered to make recommendations to the Commission on the same.
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Without question, the exercise of spelling out social equity licensing program regulations is both substantively and politically
complex - given the involvement of a stakeholder-led Advisory Board and the necessary act of drawing lines related to qualification.
• What's more, many other states have faced litigation related to their social equity program rules among them Illinois, New York,
Connecticut, and the City of Los Angeles.
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