RI H8265

Reduces the residency requirement for social equity applicants from residing in a disproportionately impacted area for 5 of the preceding 10 years to simply 5 years total

Creates a new "Disproportionately Impacted Areas Investment Fund" to provide funding for public housing, early education, and health services in communities most affected by cannabis enforcement

Redirects 50% of state cannabis excise tax revenue to the social equity assistance fund and disproportionately impacted areas investment fund, with 75%/25% split for the first 5 years, then 50%/50% thereafter

Strengthens protections for license applicants with criminal records by prohibiting the use of certain records (juvenile adjudications, arrests without conviction, expunged convictions, misdemeanors without jail time) and deeming convictions older than 5 years as evidence of sufficient rehabilitation

Requires the disproportionately impacted areas investment fund to be administered by a 501(c)(3) public charity rather than the cannabis control commission