MI SB0690

Creates a grant program administered by the marijuana regulatory agency to award money to minority-owned and woman-owned businesses seeking licensure under the medical marihuana facilities licensing act or the 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 minorities who are state residents, with more than 50% of net profit or loss 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 or loss accruing to women shareholders.

Establishes that the grant program's purpose is to help eligible businesses fulfill financial and other requirements needed to obtain marihuana licensure.

Requires the marijuana regulatory agency to create and publish an application and application review process for the grant program and authorizes it to promulgate implementing rules.