For those readers like us, who have been awaiting what equity would look like in a Connecticut cannabis industry, the wait is over.
It is unethical to make money legally off a substance that historically was used to police POC and not assist those communities adversely affected by the War on Drugs and before. Equity and expungement go hand in hand but are not the same. Both are required to help revitalized urban centers and cannabis is one industry that could provide the spark needed.
Local advocacy pushed for equity as a major key factor to any cannabis legalization effort.
There are two components of the legalization bill already filed for call to the floor. The third component, S.B 1138 has finally been released and right before the end of the committee hearings this session. This bill discusses how equity funding will be generated and how cultivation would be taxed similarly to that of alcohol production.
This bill would create a fund designated for community restoration and speaks how equity programs should be structured.
Section 6 and 7 speak directly on cannabis
- For cannabis cultivation, there is imposed a tax on such facilities on the first sale of cannabis within the state at the rate of $35 per ounce of cannabis flowers and $13.50 per ounce of cannabis trim
- There will be an imposed local sales tax at the rate of three per cent on the sale of all cannabis and cannabis products.
- The commissioner shall deposit any local sales tax collected into the municipal cannabis revenue account.
- There will be an established account to be known as the “municipal cannabis revenue account” which shall be a separate account within the General Fund. The account shall contain any moneys required by law to be deposited in the account. Moneys in the account shall be expended by the Commissioner of Revenue Services for the purpose of providing moneys in accordance with this section to municipalities in which cannabis retailers are selling cannabis and cannabis products to consumers.
Public hearing is scheduled for the Finance, Revenue and Bonding Committee on Monday, April 29, 201911:30 AM in Room 2E of the LOB.
Please submit all testimonies before 1159p the evening before to guarantee they are available to State Leadership.