The Michigan social equity program is a program in the Michigan Department of Treasury. Bureau of Marijuana Regulation, in cooperation with the Bureau of Community Health Services. The Department of Community Health should support programs that develop business plans for the establishment. The operation of businesses to provide marijuana products and services supports job growth and economic development in disproportionately impacted communities.
How does the Michigan social equity program work?
The Department shall award marijuana business development grants to eligible social equity applicants to offset start-up costs. The cost of doing business and providing access to equipment, training, mentoring, and space. For social equity businesses operating in an over-policed area or a community with an arrest rate that is overly disproportionate to the rate of arrests. Of all other communities statewide. The Department shall make recommendations for areas and where other marijuana businesses would promote community development and may request the State Treasurer’s Office competitively award one or more social equity permits for those areas.
Here Are The Five Facts About Michigan Social Equity Program!
FACT 1:
Michigan Social Equity Program has its marijuana grower and processor licenses. The state Liquor Control Commission regulates the new licenses alongside recreational marijuana business permits applications. For marijuana business licensees and the Michigan marijuana growers. Because the processors and store owners have to pay at least 2% of gross receipts for the cannabis business.
Social equity business owners are eligible for tax credits to offset operating costs and other incentives to hire. And train people from or who live in Michigan. So The Department of Community Health has determined that the communities that qualify for a social equity permit are primarily in the Detroit area.
FACT 2:
The Michigan Social Equity Program businesses are eligible to have their operations in an overpoliced area or a community with an arrest rate. That is disproportionately higher than the state average. For example, if an area has a disproportionate rate of cannabis arrests than the state.
To execute the social equity program in Michigan, the Department must also have a plan for economic development. Therefore, the Department will also support local and regional job training programs established by employers and residents of Michigan’s communities with large proportions of low-income people.
FACT 3:
Social equity applicants may be an entity or a new person living in the community for at least three years to obtain a social equity permit for a marijuana business. The applicant must have lived in the specific neighborhood for at least one year and work full-time at the social equity business. The state will award a maximum of 1,500 social equity permits. In addition, the Department of Community Health will require that 51 percent of the work hours for both cultivation.
FACT 4:
State regulators shall charge marijuana business license applicants $5,000. Each application is for a license, and the state will refund $4,000 of the fee if the application is rejected. So The Michigan Social Equity Program remainder of the fee shall cover the actual and reasonable cost of issuing licenses and conducting enforcement and administrative hearings related to marijuana businesses under this act. A portion of which will be awarded through grants to social equity applicants.
FACT 5:
The Department of Licensing and Regulatory Affairs shall maintain a continuously updated list of all licensed medical marijuana businesses, made available to the public on its website. At the end of each month, the Department shall make available to the public on its website an annual report about the implementation and outcomes of this act. Marketing for each facility operation, such as location and hours of operation. Information about licenses issued under this act has been revoked or terminated by the Department, information about violations by licensees. Who are no longer in business. And any other information that would be helpful for the public to review and consider. When evaluating whether to patronize a given facility.
Conclusion:
Michigan’s social equity program is a fantastic opportunity to assist people who live in communities devastated by the war on drugs. Now they want to give them opportunities. Because the data shows that the Michigan social equity program is doing a fantastic job by making jobs available with the proper support and ensuring these people can meet the responsibilities of being business owners and following all marijuana laws. Therefore, it is essential to educate people about our Michigan social equity program. And how it helps businesses flourish in every neighborhood, even if they have been overpoliced in the past.