San Francisco Mayor Announces Legislation to Bolster Equity Program

San Francisco Mayor London Breed has announced legislation intended to bolster San Francisco’s cannabis equity program and further support cannabis business owners through a combination of permit processing prioritization, a shortening of the time period for a transfer of more than a 50% ownership interest in a cannabis business from ten years to five years, and a requirement that cannabis businesses make additional social equity contributions if they seek to reduce an equity applicant’s ownership interest by 20% or more. To date, San Francisco has issued 31 permits to equity cannabis businesses, including permanent and temporary permits.