HB 20-1424 Summary

• Establishes a "social equity licensee" definition for Colorado residents who meet criteria including long-term residence in opportunity zones (1980-2010), prior marijuana convictions or asset forfeiture, or low household income, with at least 51% ownership requirement.

• Creates accelerator program allowing social equity licensees to operate cultivation, manufacturing, and retail marijuana businesses on premises of endorsed established licensees, with technical and capital support from host facilities.

• Prohibits state licensing authority from denying applications for social equity licensees solely based on prior marijuana convictions and authorizes rule-based fee reductions and other incentives.

• Allows social equity licensees to apply for accelerator store, cultivator, and manufacturer licenses beginning January 1, 2021, with extended implementation deadline to January 1, 2021.

• Authorizes Colorado governor to grant pardons to a class of defendants convicted of marijuana possession up to two ounces without standard pardon application requirements.