News Flash

Cannabis Legalization

Posted on: February 24, 2022

CRC Hosting Hearings on Using Tax Revenue for Social Equity

The New Jersey Cannabis Regulatory Commission (CRC) will be hosting three virtual regional hearings on the use of tax revenue for social equity purposes on March 7 for northern New Jersey, March 9 for central New Jersey, and 16 for southern New Jersey. All three meetings are 7-9 p.m.
 
The regional hearings are required as part of the Cannabis Regulatory Enforcement Assistance and Marketplace Modernization Act (CREAMM Act) but will be virtual due to COVID. The CREAMM Act imposes certain taxes on the sale of cannabis within the state, and authorizes the CRC to impose a Social Equity Excise Fee on the sale of cannabis. The fees and a portion of the taxes collected are to be deposited in special fund to be used for social equity purposes, with a particular focus on impact zones. The CRC is required to host at least three regional hearings to solicit public input on the social equity investments to be made with these funds.
 
Fill out a registration form to speak at the Regional Hearings on Using Tax Revenue for Social Equity or submit a comment in writing via the online form. The deadline to register to speak is 5 p.m. on the day before each meeting. The deadline to submit a written comment is Friday, March 18.
 
 To accommodate as many speakers as possible from each region at these meetings, the CRC is requesting that you only register for the meeting where you live, or where your organization is located. Speakers will be limited to addressing the meeting once for 3 minutes.
 
Contact: Frank Marshall, Esq., Associate General Counsel, FMarshall@njslom.org, 609-695-3481, ext. 137.

Facebook Twitter Email

Other News in Cannabis Legalization