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Committee considers routing excess cannabis excise revenue to land‑access fund for impacted communities
Summary
Amendment language introduced by a senator would create a Vermont Land Access and Opportunity Fund (managed by VHCB) and redirect a portion of cannabis excise revenue that exceeds forecasted amounts to that fund, prompting debate about the existing Cannabis Business Development Fund and one‑time seed money for social‑equity initiatives.
Senators discussed an amendment that would create a Vermont Land Access and Opportunity Fund, add a member to the Vermont Land Access and Opportunity Board, and direct some excess cannabis excise revenue to that fund instead of exclusively into the cannabis regulation fund.
Sen. Kirby Heathland and other sponsors described the proposal as a mechanism to direct any revenue beyond the official forecast toward community reinvestment and land‑access priorities administered by Vermont Housing and Conservation Board (VHCB) and the Land Access and Opportunity Board (LAOB). Legislative counsel read draft language that would direct a portion of excise revenue exceeding the July forecast to the newly created fund, after preserving certain substance‑misuse prevention allocations up to an existing statutory cap.
Senators and stakeholders debated how that change would interact with the existing Cannabis Business Development Fund — originally seeded with a $500,000 appropriation and later supplemented — which was intended to provide technical assistance and small grants for social‑equity applicants and small cannabis businesses. Committee witnesses said the business development fund has relied on one‑time infusions, and stakeholders urged establishing a predictable funding stream so technical assistance can be offered through Vermont partners, including VHCB programs like the Farm Viability Program.
Jean Hamilton, Land Access and Opportunity Board participant, told the committee the LAOB focuses on housing and land access for historically impacted communities and is positioned to direct targeted investments. Committee members expressed differing views on whether the LAOB or the Agency of Commerce and Community Development (ACCD) should manage economic‑development technical assistance and whether to prioritize immediate funding for cannabis business assistance this year.
Committee members agreed to add the amendment to the committee package for further consideration and to route financial questions to Finance and Appropriations. Several senators said they wanted more time to review the fiscal mechanics before committing to permanent redirecting of excise revenues; others supported sending the concept to Finance so it could be refined with JFO estimates.
