{"data":{"id":"us-dc/d.c.-code-7-1671.08c-perm","jurisdiction":"us-dc","citation":"D.C. Code § 7-1671.08c(Perm)","heading":"Equity, grants, and loans to social equity applicants and medical cannabis certified business enterprises.","body":"\n  *NOTE: This codification is not the most current, due to recent law changes. To see the current law (including emergency and temporary legislation, if relevant) click this link: Current Version*\n  \n\n(a)\nDSLBD shall establish grant and loan programs for the purposes of providing financial assistance and technical assistance to social equity applicants and medical cannabis certified business enterprises.\n\n(b)\nDSLBD shall have the authority to:\n(1)\nProvide equity, grants, and loans from monies in the Medical Cannabis Social Equity Fund established in § 7-1671.08b to assist social equity applicants and medical cannabis certified business enterprises in gaining entry to, and successfully operating in, the Program;\n(2)\nEnter into agreements that set forth the terms and conditions of the financial assistance, accept funds or grants, and cooperate with private entities to carry out the purposes of this section;\n(3)\nFix, determine, charge, and collect any premiums, fees, charges, costs, and expenses, including application fees, commitment fees, program fees, financing charges, or publication fees in connection with its activities under this section;\n(4)\nProvide staff, administration, and related support required to administer this section;\n(5)\nEstablish application, notification, contract, and other forms, procedures or rules; and\n(6)\nUtilize vendors or contractors to carry out the purposes of this section.\n\n(c)\nGrants made pursuant to this section shall be awarded competitively.\n\n(d)\n(1)\nLoans made pursuant to this section shall be in such principal amount and form and contain such terms and provisions with respect to security, insurance, reporting, delinquency, charges, default remedies, and other matters as DSLBD shall determine appropriate to protect the public interest.\n(2)\nAll funds received from repayment of loans shall be deposited into the Medical Cannabis Social Equity Fund established pursuant to § 7-1671.08b.\n\n(e)\nNo later than one year after establishing any equity, grant, or loan program pursuant to this section, and annually thereafter, DSLBD shall submit a report to the Mayor and Council on the outcomes of that program. The report shall include:\n(1)\nThe number of persons or businesses receiving financial assistance under this section;\n(2)\nThe amount of financial assistance awarded in the aggregate, in addition to the number and amount of loans made that are outstanding and the number and amount of grants awarded;\n(3)\nThe names of the for-profit and nonprofit vendors, partners, consultants, and advisors engaged by DSLBD to implement this section;\n(4)\nThe location of the project engaged in by the person or business; and\n(5)\nIf applicable, the economic benefits created due to this financial assistance, such as jobs created.","path":["Title 99. Reserved sections."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/7-1671.08c(Perm)","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"b432d368e7c4993d8108d043dbd24e34c3fef2372195e991f9450a04c85d4138","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-47-2202-perm","next":"us-dc/d.c.-code-7-1671.08b-perm"},"notice":"GroundRules: Original legal text. Not legal advice."}