Commission recommends CIF investments as fund balance remains dispersed by Treasury

Vice Chair Sherwin Delgado presented the commission's annual report on recommended uses of the social equity excise fee and public engagement results. Delgado said the fee rate was adjusted to $2.50 per ounce for 2025 and staff estimate approximately $11.6 million could be available for fiscal year 2026 when undispersed fund balances are combined with expected 2025 receipts.

Delgado outlined public input gathered at three regional hearings and in written comments. Public recommendations were grouped into four funding categories: economic and community development (including loans and grants for diversely owned and social-equity businesses), criminal-justice reform and reinvestment, workforce development and youth services, and public-health investments (including addiction treatment and harm reduction in communities harmed by past enforcement).

Staff also told commissioners that funds collected in fiscal years 2023–2025 have not yet been disbursed by the New Jersey Department of Treasury and that the balance in the fund as of March 2025 is $5,100,021. The commission recommended prioritizing small-grant and loan programs that would benefit applicants from economically disadvantaged areas and individuals with prior marijuana convictions, while acknowledging overall CIF receipts are modest and urging additional state resources when appropriate.

Vice Chair Delgado also recommended continued public engagement and coordination with state partners to ensure transparent, community-driven allocation of CIF funds.

Closing note: staff said the full CIF report and supporting materials will be posted to the CRC website.