Connecticut lawmakers are considering a bill that could change how quickly some cannabis business owners can sell their companies, but state officials are concerned about what effect that might have on the state's fledgling marijuana industry.
The bill, House Bill 7178, deals specifically with what are known as equity joint ventures, which are business partnerships between well-financed cannabis operators and "social equity applicants" — people who grew up or live in parts of the state that were hit hardest by the war on drugs.
State records show at least 38 cannabis businesses were created in that way in recent years. But some of the social equity applicants who formed those partnerships are now asking state lawmakers for permission to cash out after three years.
They need the legislature's permission because state law currently prevents social equity applicants from selling their ownership stakes in cannabis businesses for seven years.
Read more at CT Mirror