Cannabis social equity license preapproval window now open in MN
MINNEAPOLIS (FOX 9) - Hoping to give those who were adversely affected by previously held marijuana laws in Minnesota a leg up when it comes to opening their own shop now that it’s legal, the Office of Cannabis Management (OCM) has opened its window for applications for cannabis business social equity license preapproval.
What to know
Prospective cannabis business owners who have been verified as social equity applicants can apply for a cannabis business license preapproval through the Minnesota Office of Cannabis Management’s (OCM) website.
Earlier in July, state officials verified social equity applicants for three weeks. The initial round of social equity verification closed on July 10.
FOX 9 reported previously that some people are struggling to prove they qualify as social equity applicants because their marijuana convictions have been wiped clean.
The application window for social equity business license preapproval will be open from July 24 through Aug. 12.
Submitted business license applications will go through a review and vetting process, and if qualified, be entered into a lottery that will award licenses in nine different categories. The first license lottery will be held this fall, the OCM says.
Anyone who intends to apply for license preapproval in this round must have received social equity verification in order to proceed with the license application. Social equity licenses must be owned at least 65% by social equity applicants, which can include one person or multiple individuals.
OCM plans to offer additional social equity verification opportunities for future licensing application rounds.
Learn more
Information and resources needed to complete an application are available on OCM’s website.
OCM requires that applicants use the posted worksheets to submit their information.