The Massachusetts Cannabis Control Commission announced that it will begin accepting applications for the fourth cohort of its Social Equity Program (SEP) starting Monday, February 5. Applications will be accepted until April 30th, according to its press release.
Applicants are eligible for the Social Equity Program (SEP) if they demonstrate they meet at least one of the following criteria:
- Income that does not exceed 400% of Area Median Income and residency in a Disproportionately Impacted Area (DIA), as defined by the Commission, for at least five of the past 10 years;
- Residency in Massachusetts for at least the past 12 months and a conviction or continuance without a finding for an offense under M.G.L. c. 94C or an equivalent conviction in Other Jurisdictions;
- Residency in Massachusetts for at least the past 12 months and proof that the SEP applicant was either married to, or the child of, an individual with a conviction or continuance without a finding for a M.G.L. c. 94C offense or an equivalent conviction in Other Jurisdictions;
- Any individual listed as an owner on the original certification of a Certified Economic Empowerment Priority Applicant who satisfies one or more [of] the following criteria:
- Lived for five of the preceding 10 years in a DIA, as determined by the Commission;
- Experience in one or more previous positions where the primary population served were disproportionately impacted, or where primary responsibilities included economic education, resource provision or empowerment to disproportionately impacted individuals or communities;
- Black, African American, Hispanic or Latino descent; or
- Other significant articulable demonstration of past experience in or business practices that promote economic empowerment in a DIA.
Interested applicants will need to provide some documentation to verify their eligibility for the Social Equity Program (SEP) when submitting their application. Visit the Cannabis Control Commission’s website for documentation best practices to help with the application process. >>
AAFCPAs may assist you in determining eligibility and preparing the application. If you have questions, please contact David McManus, CPA, CGMA, Tax Partner & Cannabis Practice Leader at 774.512.4014 or email@example.com—or your AAFCPAs Partner.