In 2019, Illinois passed what has been called by some one of the most equitable marijuana legalization laws. One of its purposes was to ensure Black and Brown people had an opportunity to own stores in the state. But more than two years since its passing, many of those trying to get a license to operate a marijuana retailer say state regulations make it nearly impossible to raise money to open their businesses.
“One of the rules … is being interpreted [as] saying that you cannot sell or exchange any portion of ownership or equity in your company in order to get investors for your business,” Hughes said, adding that this makes it very difficult for license owners to raise capital and open their doors.
Mitchell says these are nuanced debates that need to be had for the future of social equity in the industry.
Equitable marijuana legalization laws are to ensure black and brown people have an opportunity to own stores in the state. Yet look at any operating dispensary today and you will notice only white people shop there. The street trade is better than ever.