MI HB5562

Creates a grant program administered by the marijuana regulatory agency to award funds to minority-owned and woman-owned businesses seeking licensure under the medical marihuana facilities licensing act or Michigan Regulation and Taxation of Marihuana Act

Defines "minority-owned business" as a business where more than 50% of voting shares or interest is owned, controlled, and operated by state residents who are minorities, with more than 50% of net profit accruing to minority shareholders

Defines "woman-owned business" as a business where more than 50% of voting shares or interest is owned, controlled, and operated by women who are state residents, with more than 50% of net profit accruing to women shareholders

Requires the marijuana regulatory agency to create and publish an application process and application review procedures for the grant program

Authorizes the marijuana regulatory agency to promulgate rules to implement the act under the administrative procedures act of 1969