HB 1443 | Illinois Cannabis Dispensary Licenses 2021 Update
Illinois Dispensary Licenses 2021| HB 1443 Summary – more lotteries coming.
A lot more cannabis licenses are coming in Illinois with HB 1443 – it really only applies to dispensary licenses, but another 120 of them will be coming to Illinois – and 100% of them will be social equity.
Basic Amendments from HB 1443 to Illinois Cannabis Dispensary Licenses
75 licenses for perfect scoring lottery
55 licenses for “Qualifying Applicants” lottery
All “Qualifying Applicants” are Social Equity Applicants
no 10-FTE “Qualifying Applicants” are “Social Equity Justice Involved Applicants”
55 licenses for “Social Equity Justice Involved Applicants” lottery
5 (+1) Medical Dispensary License Lottery for Social Equity Justice Involved Applicants that won zero licenses in previous lotteries.
1500 ft. set back for Social Equity Applicants does not apply for other dispensaries
More disclosures for corporate owners – compliance costs
Existing Dispensaries can move.
110 New Illinois Dispensary Licenses For 2021
Today we are going over the details of the amendments – what will happen next – and tease our webinar about negotiating dispensary leases – which will be a hot ticket item. Why? It’s time to discuss on this episode of.
Hello, I’m Tom – a lawyer that does nothing except cannabis business – find me on IG at CannabisIndustryLawyer – and get in touch with me by filling out the get-started survey on CannabisInudstrylawyer.com – my law blog.
Plenty to unpack in the new amendments to Illinois Cannabis Law – from new legal terms of art to additional lotteries to award even more dispensary licenses – so let’s go.
Qualifying Applicant under Illinois’ recreational cannabis law.
“Qualifying Applicant” means an applicant that submitted an application pursuant to Section 15-30 that received at least 85% of 250 application points available under Section 15-30 as the applicant’s final score and meets the definition of “Social Equity Applicant” as set forth under this Section.
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