Waives 50% of nonrefundable license fees for Social Equity Applicants in Illinois if they promise to operate in a Disproportionately Impacted Area.
Illinois HB5582 amends the Cannabis Regulation and Tax Act to waive 50% of nonrefundable license fees for Social Equity Applicants who promise to operate in a Disproportionately Impacted Area and hire at least 40% of employees from that area. The waiver applies to license application fees, fees for purchasing a license, and any surety bond or financial requirements. A breach of these promises constitutes a violation of the Act. The waiver is not cumulative, and applicants can only choose one waiver option.
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