2021 Session

Budget Amendments - HB1800 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Herring
Social Equity Qualified Cannabis Licensees

Item 394 #3h

Item 394 #3h

First Year - FY2021 Second Year - FY2022
Public Safety and Homeland Security
Virginia Alcoholic Beverage Control Authority FY2021 $0 FY2022 $15,000,000 GF

Page 471, line 42, strike "$24,692,092" and insert "$39,692,092".

Page 472, after line 23, insert:

"G. Included in the appropriation for this item is $15,000,000 the second year from the general fund for the establishment and administration of a special nonreverting fund for the sole purpose of providing low-interest and zero-interest loans to social equity qualified cannabis licensees. The purpose of the the fund is foster business ownership and economic growth within communities most disproportionately impacted by the former prohibition of cannabis. The Authority shall contract with a community development financial institution to administer the loans."


(This amendment provides $15.0 million from the general fund the second year to establish a nonreverting fund to provide loans to social equity qualified cannabis licensees to foster business development in communities disproportionately impacted by cannabis prohibition. This amendment is dependent upon passage of legislation to be considered by the 2021 Session of the General Assembly which would legalized commercial distribution and personal consumption of cannabis products by adults.)