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SENATE DOCKET, NO. 2160 FILED ON: 1/17/2025
SENATE . . . . . . . . . . . . . . No. 85
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Edward J. Kennedy, (BY REQUEST)
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act enabling private donations to the cannabis social equity trust fund.
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PETITION OF:
NAME:DISTRICT/ADDRESS :Kevin GilnackBruce E. TarrFirst Essex and Middlesex3/10/2025Manny Cruz7th Essex3/10/2025 1 of 4
SENATE DOCKET, NO. 2160 FILED ON: 1/17/2025
SENATE . . . . . . . . . . . . . . No. 85
By Mr. Kennedy (by request), a petition (accompanied by bill, Senate, No. 85) of Kevin Gilnack,
, Bruce E. Tarr and Manny Cruz for legislation to enable private donations to the cannabis social
equity trust fund. Cannabis Policy.
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Fourth General Court
(2025-2026)
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An Act enabling private donations to the cannabis social equity trust fund.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Section 14A of Chapter 94G of the General Laws is amended by inserting,
2at the end of the section, the following subsection:
3 (f) The executive office of economic development, in consultation with the advisory
4board, shall establish all necessary policies and procedures to enable the fund to solicit and
5accept donations from private individuals and entities including but not limited to licensed
6marijuana establishments or medical marijuana treatment centers seeking to satisfy their positive
7impact plan pursuant to Mass. Gen. Laws ch. 94G, ยง 4(a1/2)(xxxv), and other businesses,
8nonprofit organizations, and individuals.
9 (i) The executive office of economic development and the cannabis control commission
10shall publicize opportunities to donate to the cannabis social equity trust fund on their website
11and other relevant materials provided to marijuana establishments, medical marijuana treatment
12centers, municipalities, the media, other stakeholders, and the public. 2 of 4
13 (ii) No later than 90 days after the end of the fiscal year, the executive office of economic
14development shall submit a report to the chairs of the joint committee on ways and means and
15the joint committee on cannabis policy on private donations to the fund, including but not limited
16to efforts to advertise and solicit private donations, amounts raised, summary of amounts raised
17by source type, amount spent to administer the solicitation and collection of private donations.
18 SECTION 2. Chapter 62 of the General Laws is amended by inserting, after Section 6N,
19the following section:
20 Section 6O: Cannabis Social Equity Trust Fund; voluntary contributions
21 Section 6O. Every individual who files a separate return may voluntarily contribute one
22dollar to be paid over to the Cannabis Social Equity Trust Fund, established by section 14A of
23chapter 94G. In the case of a joint return of husband and wife, each spouse may voluntarily
24contribute five thousand dollars to said fund. A credit in the full amount of any contribution
25under this section shall be allowed against the tax imposed by this chapter; provided, that for any
26such return no such credit shall exceed the income tax liability for any taxable year.
27 A contribution made under this section may be made with respect to any taxable year at
28the time of filing the return of the tax imposed by this chapter for such taxable year; provided,
29however, that the commissioner shall prescribe the manner in which such contribution shall be
30made on the face of the return required by section five of chapter sixty-two C.
31 The provisions of this section shall apply only to residents required to file a return under
32this chapter. 3 of 4
33 For purposes of this section the words ''income tax liability for any taxable year'' shall
34mean the amount of tax imposed by this chapter reduced by sum of the credits allowed by clause
35(a) of section six.
36 SECTION 3. Section 14A of Chapter 94G of the General Laws is amended by inserting,
37at the end of the section, the following subsection:
38 (g) The executive office of economic development, in consultation with the advisory
39board, shall establish a program to guarantee loans through Community Development Financial
40Institutions, non-traditional nonprofit lenders, credit unions, and banks using a portion of the
41fund.
42 (i) The executive office of economic development, in consultation with the advisory
43board, shall convene at least one public listening session for stakeholders to provide feedback
44regarding the amount or percent of available funds that should be used for this program and other
45program details.
46 (ii) The executive office of economic development, in consultation with the advisory
47board, shall a stakeholders working group to provide feedback and guidance in the development
48of this program. The working group shall include the fund manager, secretary of the executive
49office of economic development of their designee, commissioner of banks of their designee,
50director of the growth capital division of the Massachusetts development finance agency or their
51designee, the chairs of the joint committee on cannabis policy committee or their designees, the
52chairs of the joint committee on ways and means or their designee, the chairs of the joint
53committee on financial services or their designee, the chairs of the joint committee on
54community development and small business or their designee, the chair of the Massachusetts 4 of 4
55cannabis advisory board or their designee, the chair of the cannabis control commission or their
56designee, three social equity businesses owners appointed by the governor, three social equity
57business owners appointed by the treasurer and receiver general, three social equity business
58owners appointed by the attorney general, one community development financial institution
59leader appointed by the governor, one bank leader appointed by the governor, one credit union
60leader appointed by the governor, and the eon foundation.
61 (iii) The advisory board, in consultation with the working group, shall approve the
62percent or amount of available funds to be used for this program.
63 The advisory board, in consultation with the executive office of economic development
64and the working group shall promulgate regulations governing the structure and administration
65of the program.