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Land Access and Opportunity Board urges 25% of cannabis excise tax for community reinvestment, recommends $1 million for business development fund
Summary
At a House Government Operations Committee hearing, the Land Access and Opportunity Board urged lawmakers to dedicate 25% of Vermont—annabis excise tax revenues to community reinvestment and recommended a $1,000,000 annual allocation to the Cannabis Business Development Fund to support social equity licensees and housing-related programs.
A representative of the Land Access and Opportunity Board told the House Government Operations Committee that the board recommends dedicating 25% of cannabis excise tax revenues to community reinvestment and allocating $1,000,000 annually to the Cannabis Business Development Fund to support cannabis businesses, prioritizing social equity licensees.
The recommendation comes from a report submitted earlier this year that the LAOB representative said contains four recommendations, including the $1,000,000 allocation and the 25% dedication of excise tax revenue. "This report includes 4 recommendations, 1 of which is to allocate $1,000,000 to the Cannabis Business Development Fund to support cannabis businesses that are in the sector and, specifically and importantly, social equity…
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