Colorado: Governor Signs Bill Facilitating Greater Diversity Within the Cannabis Industry

Denver, CO: Democratic Gov. Jared Polis signed legislation, Senate Bill 21, into law to provide grant funding and other incentives to certain marijuana-related businesses. 

The law establishes a program within the state’s Office of Economic Development and International Trade to provide financial and technical support to cannabis businesses operated by those holding social equity licenses. An initial infusion of $4 million in funding will be provided to the program to be used as either grants or loans to new businesses. 

Governor Polis said the establishment of the new program is necessary because
“right now the federal Small Business Administration prevents federal resources from going to support and help companies that operate in the legal marijuana industry.”

For more information, contact Carly Wolf, NORML State Policies Manager, or visit Colorado NORML.