Code of Massachusetts Regulations › 400 CMR - EXECUTIVE OFFICE OF ECONOMIC DEVELOPMENT › Title 400 CMR 8.00 - Cannabis Social Equity Trust Fund › Section 8.02 - Definitions

Current through Register 1525, July 5, 2024
Board
. The Cannabis Social Equity
				Advisory Board.
Borrower
. Any person or entity who
				receives a Loan from the Fund.
Commission
. The Cannabis Control
				Commission.
Confidential Records
. As defined in
				935
				CMR 500.002 and
				935
				CMR 501.002.
Contract
. The written agreement
				between EOED and the person or entity receiving Financial Assistance, as
				required by section 8.05(3).
Economic Empowerment Priority
				Applicant
. A person or entity who has been designated by the
				Commission as an Economic Empowerment Priority Applicant, as defined at
				935
				CMR 500.002 and
				935
				CMR 501.002.
EOED
. The Executive Office of Economic
				Development.
Financial Assistance
. A grant or loan
				from the Fund. Financial Assistance may be structured as a grant, loan,
				forgivable loan, loan guarantee or other form of credit enhancement at the sole
				discretion of EOED.
Fund
. The Cannabis Social Equity Trust
				Fund established by section 14A of chapter 94G of the General Laws.
License
. As defined in
				935
				CMR 500.002 and
				935
				CMR 501.002.
License Applicant
. A person or entity
				pursuing a license to operate a Marijuana Establishment or Medical Marijuana
				Treatment Center who has submitted or intends to submit a license application
				to the Commission, as defined in
				935
				CMR 500.100 or
				935
				CMR 501.100. A License Applicant may also be
				considered a prospective Marijuana Establishment.
Licensee
. As defined in
				935
				CMR 500.002 and
				935
				CMR 501.002.
Marijuana Establishment
. As defined in
				935
				CMR 500.002.
Medical Marijuana Treatment Center
. As
				defined in
				935
				CMR 501.002.
Person or Entity Having Direct
				Control
. As defined in
				935
				CMR 500.002 and
				935
				CMR 501.002.
Program Guidelines
. A document issued
				by EOED that describes the types of Financial Assistance available from the
				Fund, the process for applying for Financial Assistance, and the criteria by
				which EOED will evaluate applications for Financial Assistance. Program
				guidelines shall be developed in consultation with the Board and shall be in
				place prior to making Financial Assistance available on a rolling basis.
Provisional License
. Either a
				Provisional Marijuana Establishment License or Provisional Medical Marijuana
				Treatment Center License, as defined in
				935
				CMR 500.002 and
				935
				CMR 501.002.
Request for Proposals or RFP
. A
				document issued by EOED on an annual or semi-annual basis announcing that EOED
				is accepting applications for Financial Assistance. An RFP shall describe the
				types of Financial Assistance available from the Fund, the process for applying
				for Financial Assistance, and the criteria by which EOED will evaluate
				applications for Financial Assistance. Any RFPs will be developed in
				consultation with the Board.
Restricted Assets
. Any real estate
				interest, equipment, capital asset or other asset with a market value in excess
				of five thousand dollars ($5,000) acquired in whole or in part using Financial
				Assistance.
Social Equity Business
. A Marijuana
				Establishment with not less than 51 per cent majority ownership of individuals
				who are eligible for the social equity program or whose ownership qualifies it
				as an Economic Empowerment Priority Applicant, as defined by Section 1 of
				Chapter 94G of the General Laws. For purposes of administering the Fund, EOED
				may rely on the Commission's verification of an entity as a Social Equity
				Business.
Social Equity Program Participant
. An
				individual who qualified to participate in the Social Equity Program and is
				designated as a program participant by the Commission, as defined by
				935
				CMR 500.002 and
				935
				CMR 501.002.