Business
New Massachusetts reform law expected to boost state’s marijuana industry
Massachusetts’ governor signed into law a comprehensive overhaul of the state’s marijuana regulatory system that’s intended to bolster the industry in several key ways.
According to The (North Andover) Eagle-Tribune, the law signed by Gov. Charlie Baker will:
- Give state regulators more direct oversight of fees charged by local governments, which have led to corruption investigations.
- Pave the way for cannabis consumption lounges.
- Create a Social Equity Trust Fund to award grants and loans to marijuana entrepreneurs who were harmed by the war on drugs.
Several industry insiders applauded the bill’s passage, and Massachusetts Cannabis Control Commission member Ava Callender Concepcion described the bill as “monumental” for marijuana industry stakeholders, The Berkshire Eagle reported.
“It is a massive step” toward fixing a lot of industry problems, Callender Concepcion told the Eagle.
Source: https://mjbizdaily.com/new-massachusetts-reform-law-expected-to-boost-states-marijuana-industry/