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Key details await as NY eyes $200M pot business equity fund

KIFI

By JENNIFER PELTZ
Associated Press

NEW YORK (AP) — New York is proposing a $200 million fund to help people of color, women and some others start marijuana businesses. It’s an ambitious plan to make the pot industry more equitable. But officials haven’t yet nailed down some components that experts say are crucial to making the investment effective. Gov. Kathy Hochul’s proposal was unveiled last month. It would be among the largest sums any state has committed to try to ensure social equity in the fast-growing legal marijuana business. Would-be equity applicants and advocates are anxious for answers about who would provide private dollars and whether the money would help cover the costs of seeking a license, or come in only afterward.

Article Topic Follows: AP National Business

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Associated Press

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