BOSTON (SHNS) – The Cannabis Control Commission expedited its regulatory process on Wednesday to meet a deadline embedded in a law overhauling the state’s marijuana industry.
Under the law, the CCC had until June 19 to promulgate regulations raising the cap on the number of licenses cannabis retailers can hold from three store licenses to six. To meet the deadline, commissioners unanimously voted to adopt an emergency set of regulations that put the policies into effect immediately. Under the emergency regulatory process, commissioners will file the regulations with the Secretary of State’s office and they will be in effect for three months while the CCC gathers public input.
The regulations specify that for the first 12 months they’re in place, only social equity businesses are eligible to get up to six retail licenses and non-social equity businesses can hold up to five retail licenses. Also, a single licensee can hold up to three fully integrated medical marijuana licenses. The amount of financial interest an individual can hold before it counts to the license cap is raised from 10% to 20%. That’s as long as the licensee doesn’t have direct or indirect control over the business…