Illinois HB 2343: CANNABIS SOCIAL EQUITY

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 Full Text of HB2343

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB2343

Introduced 2/4/2025, by Rep. Marcus C. Evans, Jr. 

SYNOPSIS AS INTRODUCED:

See Index

 Amends the Compassionate Use of Medical Cannabis Program Act. Provides that the Department of Financial and Professional Regulation and the Department of Agriculture may share with the Department of Commerce and Economic Opportunity any licensee information necessary to support the administration of social equity programming. Amends the Cannabis Regulation and Tax Act. Adds a definition. In various provisions, adds Social Equity Lottery Licensees to provisions that include Social Equity Applicants. Provides that the Cannabis Business Development Fund shall be exclusively used for certain purposes, to include providing financial assistance to support lending to, or private investment in, Qualified Social Equity Applicants and Social Equity Lottery Licensees, or to facilitate access to the facilities needed to commence operations as a cannabis business establishment. In provisions regarding loans and grants to Social Equity Applicants, adds financial assistance to provisions that include loans and grants. Provides that the Department of Commerce and Economic Opportunity has the power to enter into financial intermediary agreements to facilitate lending to or investment in Qualified Social Equity Applicants, Social Equity Lottery Licensees, or their subsidiaries or affiliates, to ensure the availability of facilities necessary to operate a cannabis business establishment. Provides that certain loans made shall contain terms and provisions with respect to forgiveness. Provides that those loans also may be distributed by lot if the Department of Commerce and Economic Opportunity determi