Share This Post
Social Equity Status is All or Nothing, IDFPR Clarifies
The Illinois Department of Financial and Professional Regulation (IDFPR), the arm of the government in charge of licensing cannabis dispensaries, recently compiled and published their answers to the questions they have received about the application process. The law leaves many issues unresolved, and this resource clarifies a lot of them.
One of the key parts of the statute is the Social Equity portion, with a full fifth of the points on a dispensary application only available for Social Equity applicants. However, how these points would be awarded was still up in the air: Will having more eligible people on your application net you more points? If 75% of the business is owned by Social Equity applicants, will they receive 75% of the points? If we have several team members who live in a Disproportionately Impacted Area or who have an expungable offense, does that improve our chances of getting some points? Et cetera. The IDFPR answered, ruling that applicants would be awarded either all the points or none:
“Points awarded for Exhibit P (Evidence of Status as a Social Equity Applicant) will be awarded on a binary basis in which applicants that qualify will receive 50 points and applicants that do not qualify will receive 0 points. Applicants will not receive additional points for meeting more than one qualifying criterion or for going beyond the required criteria in the Cannabis Regulation and Tax Act.”
With so many points on the line, making a strong case for Social Equity status is critical to a successful application. Illinois Cannabis Attorneys can help you make that determination and judge how it will affect your chances of securing a license. We offer a package analyzing your Social Equity eligibility for a flat fee of $750. Applications are due January 2nd, so time is short! Contact us today to get started ASAP.
We strive to be the best legal resource for Illinois’s cannabis industry. With our devotion to responsive, personal service, we’ll make sure you’re ready for the changes that come along.