Nov. 19, 2019-State Representative Kelly Cassidy and Alma Tello, Deputy Director of the Illinois Office of Minority Economic Empowerment made themselves available to answer questions and concerns regarding cannabis licensing questions and more specifically questions regarding social equity licensing and loans provided by the state of Illinois.
Illinois became the first state to legalize cannabis through legislative process. The legislation contained heavy provisions for social equity and minority owned businesses, touted as the most comprehensive in the nation.
The Illinois Department of Commerce and Economic Development (DCEO) is responsible for ensuring social equity applicants recieve accurate and timely information as well as funds related to the business loans set aside by the Cannabis Regulation and Tax Act (410 ILCS 705) through the Cannabis Business Development Fund.
Many questioners voiced their frustration with the timeline and the fact that they haven’t been able to receive the funding they need to hire the consultants recommended to them by DCEO. Frustration over the potential of lost time and rushed applications, potential applicants are feeling as if they will not receive help on time.
Another piece of Cannabis Regulation and Tax Act (410 ILCS 705) and the Cannabis Business Development Fund requires established medical cannabis to provide help and assistance to social equity applicants with their applications. Many potential applicants are feeling pressured to release parts of their company to these established license holders in the way of equity stake in the company.
Renee Hatcher of the John Marshal Law School at University of Illinois at Chicago (UIC) made herself available through their outreach program titled The Community Enterprise & Solidarity Economy Clinic. This free clinic is aimed at helping “people start community enterprises to promote equity, practice democratic decision-making, and build sustainability”.
Renee can be contacted at 312.472.2737 ext. 144, or at rhatche@jmls.edu. Their website is www.jmls.uic.edu/community-enterprise.
