Definitions

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. (Mass. Register #1514, 2/2/2024) 8.02: continued 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.