§ 7–1671.08b. Medical Cannabis Social Equity Fund.

(a) There is established as a special fund the Medical Cannabis Social Equity Fund ("Fund"), which shall be administered by Department of Small and Local Business Development ("DSLBD") in consultation with ABRA and in accordance with subsection (c) of this section.

(b) Revenue from the following sources shall be deposited into the Fund:

(1) All revenue in excess of the amount budgeted in the Fiscal Year 2023 budget for Fiscal Years 2024, 2025, and 2026 collected pursuant to § 47-2002(a)(7);

(2) Beginning October 1, 2026, all revenue collected pursuant to § 47-2002(a)(7);

(3) Any amount above $100,000 in fines imposed and collected pursuant to § 7-1675.01; and

(4) Any amount above $100,000 in fines imposed and collected pursuant to § 47-2844(a-2)(1B).

(1) Administer the medical cannabis certified business enterprise program; and

(2) Provide equity, grants, and loans to assist social equity applicants and medical cannabis certified business enterprises in gaining entry to, and successfully operating in, the Program.

(d)(1) The money deposited into the Fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.

(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.

(e) ABRA and DSLBD shall enter into a memorandum of understanding to effectively implement the distribution of funds in the Fund for the purpose set forth in subsection (c) of this section.