The Cannabis Social Equity Trust Fund in Massachusetts is flush with more than $27 million, according to a new report.
The fund’s total balance, according to the state’s Executive Office of Economic Development, came largely from the first full annual transfer from the Marijuana Regulation Fund, which occurred Feb. 1.
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The funding update was first reported by State House News Service.
Fifteen percent of the Marijuana Regulation Fund, which is financed by state marijuana application and licensing fees as well as state excise taxes, is earmarked to bolster the Cannabis Social Equity Trust fund.
The full annual transfer of $27.4 million followed an initial transfer of $2.3 million in December 2023.
Those responsible for the Cannabis Social Equity Trust Fund faced pressure in
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