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Land Access & Opportunity Board urges dedicating cannabis excise tax to housing, proposes $1 million business-development fund
Summary
The Land Access and Opportunity Board told the Senate committee on April 23 that dedicating a portion of cannabis excise tax revenue to community reinvestment could fund down-payment assistance, capital for emerging developers and technical assistance to help marginalized Vermonters access land and housing.
Representatives of the Land Access and Opportunity Board (LAOB) presented the committee with recommendations from the Act 166 working group and the CCB report, urging that a portion of cannabis excise tax revenue be dedicated to community reinvestment.
For the record, Sorneda Mata Puyeroa, director of Advocacy and Community Engagement for the Land Access and Opportunity Board, and Jean Hamilton, director of program development for the LAOB, described the board—a 22-seat body representing marginalized communities—and outlined how cannabis-related revenue could fund land- and housing-focused programs.
The LAOB endorsed two specific finance ideas that appeared in the CCB—s report: a $1,000,000 initial investment in a cannabis business development fund and a dedicated share of the excise tax for community reinvestment. The LAOB repeated the CCB recommendation to allocate 25% of the excise tax to community reinvestment programs; LAOB staff estimated that a 25% allocation of current excise receipts would provide roughly $4,000,000 for LAOB programming in the first year.
Mata Puyeroa said the LAOB would direct such funds toward three priorities: down-payment assistance grants for housing, a capital fund for emerging developers and technical assistance and capacity-building partnerships (for example, with VHFA and DHCD) to help community-scale developers access capital and complete projects. "We strongly advocate for and support a $1,000,000 investment into the cannabis business development fund," the LAOB presentation said.
LAOB representatives emphasized the link between historic enforcement of cannabis laws and current barriers to land ownership, intergenerational wealth and housing access. The board described existing constraints: high land costs, federal funding restrictions that preclude some lands from licensed cultivation, and the administrative barriers small and community-based developers face when seeking capital.
No committee votes were held on the LAOB recommendations. Committee members thanked the LAOB presenters and asked staff to circulate the LAOB and CCB reports for further review. Several members said they wanted more detail on program design and on how LAOB funding would complement existing federal, state and local housing programs.
Why it matters: LAOB proposals would redirect a measurable share of a new revenue stream to housing and land-access programs targeted at communities historically harmed by drug prohibition and discriminatory enforcement. The committee asked for additional implementation details before acting on statutory earmarks or appropriations.
