Signed by Governor Phil Murphy

Vote Smart's Synopsis:

Vote to pass a bill that amends certain restrictions on cannabis establishment owners.

Highlights:

• Authorizes any individual investor, or investor group to own up to 35% equity in up to 7 diversity-owened class 5 cannabis retail licenses, while simultaneously authorizing the 35% equity holder to provide loans or license intellectual property (IP) to the very same license holders provided that terms are commercially reasonable (Sec. 19).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval of the governor (Sec. 19).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends certain restrictions on cannabis establishment owners.

Highlights:

• Authorizes any individual investor, or investor group to own up to 35% equity in up to 7 diversity-owened class 5 cannabis retail licenses, while simultaneously authorizing the 35% equity holder to provide loans or license intellectual property (IP) to the very same license holders provided that terms are commercially reasonable (Sec. 19).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval of the governor (Sec. 19).

Full Bill Text