The New Jersey Cannabis Regulatory Commission (CRC) voted to adopt the first set of rules that will guide the cultivation, manufacture, and sale of recreational cannabis in the state. The rule adoption paves the way for the opening of applications for cannabis business licenses.
The approved rules address barriers to entry that have plagued some cannabis markets across the country. The components include prioritizing applications from certified MWBE businesses and from applicants who live or will operate in one of several designated economically disadvantaged areas, and flexible application requirements for microbusinesses and those applying for conditional license.
“All the commissioners have worked diligently since the CRC was launched in April to bring these rules to fruition,” said Commission Chair Dianna Houenou. “We know that there is a lot of interest in getting this market up and running and we were duty-bound to do it right. We are honored to be able to lay the foundation for an economically sound, socially equitable, and safe market.”
Application fees are also as low as $100 in an effort to make establishing a cannabis business more affordable.
“We were ambitious with our timeline to make personal-use cannabis available, and I am pleased the commission was able to create these regulations in record time,” said New Jersey Gov. Phil Murphy. “Prioritizing applications from women and minority entrepreneurs, from business owners living in economically disadvantaged communities, and from small business owners will ensure the market grows the way we envisioned—in a way that is socially equitable and reflective of our state’s diversity.”
The rules are immediately effective upon filing with the Office of Administrative Law and will remain effective for up to one year. The CRC will begin accepting applications for cannabis business licenses at a date soon to be announced.
“The rules will help create a market that is competitive, diverse, and that puts our core values of equity and safety first,” said Jeff Brown, the CRC’s executive director. “They will ensure that entrepreneurs have access to the market, especially those who have been negatively impacted by cannabis prohibition, and ensure that consumers and stakeholders can have confidence in safe, well regulated legal sales.”
This content was originally published here.