Legislators in Delaware have implemented a social equity license program as part of the bill legalizing recreational marijuana. This program aims to provide opportunities for individuals disproportionately affected by marijuana prohibition to apply for business licenses at a 40% discounted rate. Eligibility for social equity licenses is open to those who have been arrested for a marijuana-related offense or have resided in a disproportionately impacted area for at least five of the past 10 years. The Office of the Marijuana Commissioner (OMC) has identified specific regions in Delaware as disproportionately impacted based on past arrest and conviction rates related to marijuana.
OMC conducted workshops in June to educate potential applicants on various aspects of the marijuana business, including banking, legal, and insurance practices. Commissioner Rob Coupe emphasized the importance of applicants conducting thorough research and seeking legal advice before engaging with consultants, especially those from out-of-state entities who may engage in predatory practices. Social equity license holders must maintain 51% ownership, with the remaining 49% stake being up to the licensee’s discretion.
Applicants have until July 15, 2024, to submit a Social Equity Eligibility Validation Form to determine their eligibility for the program. There are 47 available licenses up for grabs, providing an opportunity for individuals from impacted communities to participate in the growing marijuana industry in Delaware. Coupe stresses the importance of community awareness and vigilance to prevent potential exploitation in the application process.
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Photo credit www.delawarepublic.org