A long-delayed social equity fund intended to prop up small marijuana businesses in Massachusetts has launched.
Massachusetts Gov. Maura Healy last week awarded the first grants – totaling $2.35 million – from the state Cannabis Social Equity Trust Fund.
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The initial 50 grants ranged in amount from $20,000 to $50,000, “with an additional $20 million expected to go out to businesses in the future,” the Boston Business Journal reported.
The administration had promised that an additional disbursement from the fund of up to $27.4 million would be available as soon as later this year.
Paid for by the state’s 15% marijuana sales tax, the trust fund was created in 2022, but “issues” with “the way the law was drafted” kept the fund
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