SB 1155 Summary

• Creates a grant program administered by the marijuana regulatory agency to award funds to minority-owned and woman-owned businesses applying for licenses under the Medical Marihuana Facilities Licensing Act or Michigan Regulation and Taxation of Marihuana Act.

• Defines "minority" as individuals who are Black, Hispanic, Oriental, Eskimo, or American Indian residents of Michigan.

• Defines "minority-owned business" as a business where more than 50% of voting shares are owned and controlled by minority residents and more than 50% of net profits accrue to minority shareholders.

• Defines "woman-owned business" as a business where more than 50% of voting shares are owned and controlled by women residents and more than 50% of net profits accrue to women shareholders.

• Authorizes the marijuana regulatory agency to promulgate rules under the Administrative Procedures Act to implement the grant program.