Social justice scores high in Illinois

The highly anticipated social justice conditional cannabis licenses were issued a little over a year later than they should have been. The state of Illinois will have 55 new retailers licensed in the lucrative part of the state’s recreational cannabis industry.

The pandemic halted many proceedings in various states across America.

In Illinois, the process of licensing cannabis dispensaries to social justice candidates had to be halted as the government’s focus was on fighting the pandemic and ensuring the just welfare of Illinois residents.

Despite this hiatus, the Illinois Department of Financial and Professional Regulation released a report stating that cannabis sales have increased every month since the state approved recreational marijuana sales in January 2020.

The Illinois Cannabis Social Equity Program

This program was established as part of the Credit Reducing Term Assurance (CRTA) agency. The aim of the program is to give the illegal and disadvantaged people negatively affected by the war on drugs the opportunity to benefit from the multi-dollar cannabis industry. The majority of the individuals in this disadvantaged group happen to come from communities of color.

The Social Justice Program offers a variety of assistance to those with approved applications.

These applicants will have access to funding and sponsored training programs at accredited colleges to improve their chances of entering the cannabis industry. Other resources available to these applicants include additional credits for license applicants as well as the ability to enroll in development programs for other disadvantaged communities in Illinois.

The selection process for applicants includes a lottery procedure for applicants with high scores. Each applicant’s form must be graded to determine the highest scoring individuals who would enter the lottery stage. The lottery session ensures that the finalists chosen are different and that the selection process is incorrect to favor one community over another.

In the past year, several lawsuits have been filed by both successful and unsuccessful claimants. The government immediately put in place legislation to reform the selection process and ensure that all doubts are cleared.

“Social justice and equity are at the heart and soul of the Illinois adult cannabis program,” said Toi Hutchinson, senior advisor to Governor Pritzker.

The successful applicants 2020/2021

The applicants who have just received their licenses were selected from over 500 outstanding applicants. All individual applicants had a score of at least 85% in their applications. The lockdown due to the COVID-19 pandemic resulted in a delay in the issuance of licenses.

To qualify for the lottery, all applicants had to be well qualified to receive social justice status. The factors that determine an applicant’s social justice status are either an admissible cannabis-related conviction or residency in a disadvantaged community; or both. Once an applicant fulfills these, they can select a form and fill in the correct information.

Granting these licenses to social justice candidates enables the diversity of the Illinois cannabis industry. It is also a form of repayment to the disadvantaged communities while the government continues to work to clear out more convictions. These licenses help the government invest more in disproportionately affected communities that bear the brunt of the failed drug war in the state.

Successful applicants have six months after receiving their license to choose a physical location for their fuel pumps. Not all applicants can secure their location within this allotted time, while some of these applicants may receive a renewal, while others may be forced to transfer their license to another region. This region is selected and specified by the Illinois Department of Financial and Professional Regulation (IDFPR).

If an applicant is not granted either option, it means that the conditional social justice license is automatically revoked and granted to another applicant. This complies with the rules of the Cannabis Ordinance and Tax Act, which were signed on June 25, 2019.

Applicants are likely to lose their licenses because …

Some of the applicants will have lost their investors due to the long delay before the licenses are finally granted. The lawsuits also resulted in some of these aspiring pharmacy owners losing the talent it took to start and properly position the business.

Some of these applicants will attempt to expropriate the licenses once they accept that they would not be very lucky to successfully build the pharmacy.

Because of this, some licenses are revocable and very likely will change hands in no time. There are currently regulations preventing some licenses from being transferred until the end of December.

Additional licenses to be issued

The state will hold another lottery to select 75 additional applicants for conditional licenses. This lottery will take place on August 19th.

According to reports, the applicants selected for the lottery had a tie with other applicants in holding the first lottery. The rules clearly state that no applicant or individual primary official can be awarded more than two conditional licenses in the lottery.

Any applicant with an officer or director may be denied conditional licenses, especially if the individual has a financial or voting interest of at least 5% and is irregular in paying amounts to the state of Illinois or filing required tax returns.

last words

Mario Treto, acting secretary of the Illinois Department of Financial and Professional Regulation (IDFPR), said, “The announcement of today’s lottery selection marks a milestone in Illinois as the national leader in promoting cannabis capital, and I look forward to taking the next steps to do together for the future of the cannabis industry in Illinois. “

Experts predict that the adult marijuana market will grow significantly once all licenses are issued and pharmacies are finally open for business.

One can only imagine how many millions of dollars in income will be generated by then and what generational wealth can be built up if the applicants stay on the right track.

Recall that last month the state recorded recreational cannabis worth $ 127.8 million in legal pharmacies across the country.

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