New York Plans $200 Million Fund To Bolster Marijuana Social Equity Goals
Advocates have expressed concerns about how the goals would play out in reality
New York’s new governor plans to create a $200 million public-private fund to support the state’s ambitious social equity goals for its projected multibillion-dollar recreational marijuana industry.
The adult-use legislation enacted last year sets a goal of awarding 50% of all licenses to social equity applicants in efforts to build a diverse industry and include communities and individuals impacted by the war on drugs.
But advocates have expressed concerns about how the goals would play out in reality and whether the program would be the game changer it has been professed to be.
Gov. Kathy Hochul attempts to address those concerns in a plan articulated in her 237-page State of the State book released this week.
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