{"AmendmentNumber":"274","ParentBillNumber":"S3178","Bill":null,"Sponsor":{"Id":"A_G0","Name":"Adam Gómez","Type":1,"Details":"https://malegislature.gov/api/GeneralCourts/194/LegislativeMembers/A_G0","ResponseDate":"2026-07-20T11:36:55.627"},"Category":null,"Action":"Rejected","RollCall":[],"Title":"Repayment Plans for Social Equity Businesses\r\n","Branch":"Senate","RedraftNumber":null,"IsFurther":false,"GeneralCourtNumber":194,"Text":"Messrs. Gómez and Eldridge and Ms. Lovely move that the proposed new text be amended by adding the following sections:-\r\n\"SECTION X. Chapter 62C of the General Laws, as appearing in the 2024 Official Edition, is hereby amended by inserting after section 53 the following section:-\r\nSection 53A.\r\n(a) For the purposes of this section, the term “certified equity cannabis business” shall mean an entity licensed by the cannabis control commission and certified by the commission, pursuant to chapter 94G and regulations promulgated thereunder, as: (i) an economic empowerment priority applicant; (ii) a participant in the social equity program; or (iii) a social equity business.\r\n(b) Notwithstanding section 53 or any other general or special law to the contrary, the commissioner shall not levy upon, seize, attach, garnish or otherwise restrain funds held in a depository account of a certified equity cannabis business for failure to pay taxes during the period established in subsection (c).\r\n(c) The commissioner shall establish a moratorium on levies under section 53 applicable to certified equity cannabis businesses for a period of 36 months from the effective date of this section.\r\n(d) Following the expiration of the moratorium established in subsection (c), the commissioner shall not initiate any levy under section 53 against a certified equity cannabis business unless: (i) the commissioner has provided written notice of delinquency; and (ii) the taxpayer has been afforded not less than 60 days to cure the delinquency or enter into an installment payment agreement pursuant to subsection (e).\r\n(e) Notwithstanding section 37B, the commissioner shall offer and enter into an installment payment agreement with any certified equity cannabis business with outstanding tax liabilities, which shall: (i) provide a repayment term of not less than 5 and not more than 15 years; (ii) include interest at a rate not exceeding 2 per cent, or such lower rate as the commissioner may establish; (iii) waive all penalties accrued prior to the execution of the agreement; (iv) require payments that are reasonably calibrated to the business’s revenue and cash flow, except as otherwise provided during the moratorium period established in subsection (c); and (v) prohibit levy or seizure actions under section 53 so long as the taxpayer remains in compliance with the agreement.\r\n(f) The commissioner shall suspend or refrain from levy actions against a certified equity cannabis business upon a showing of financial hardship, including, but not limited to: (i) risk of business closure; (ii) inability to meet payroll obligations; or (iii) other material impairment to ongoing operations, as determined pursuant to standards to be promulgated by the commissioner within 90 days of the effective date of this section.\r\n(g) Notwithstanding any general or special law to the contrary, no levy under section 53 shall apply to the first $100,000 held in a depository account of a certified equity cannabis business, which amount shall be deemed necessary for ongoing operations, including payroll, rent, utilities and inventory.\r\n(h) The commissioner shall promptly release any existing levy on the accounts of a certified equity cannabis business upon: (i) verification of eligibility under subsection (a); and (ii) entry into an installment payment agreement pursuant to subsection (e), provided that no payments shall be required under such agreement until the expiration of the moratorium established in subsection (c).\r\n(i) The cannabis control commission shall establish a process to certify and maintain a current list of certified equity cannabis businesses and shall transmit such list to the department of revenue on at least a monthly basis for purposes of administering this section. The department shall use such certification to ensure compliance with this section.\r\nSECTION X. Subsection (a) of section 14A of chapter 94G of the General Laws, as appearing in the 2024 Official Edition, is hereby amended by striking out the second sentence and inserting in place thereof the following 2 sentences:-\r\nMoney in the fund shall be used to make grants and loans, including no-interest loans and forgivable loans, to social equity program participants, economic empowerment priority applicants and social equity businesses certified by the cannabis control commission pursuant to chapter 94G and regulations promulgated thereunder. Money in the fund may also be used to make loans, including no-interest loans and forgivable loans, to cure outstanding tax liabilities owed to the commonwealth by such participants, applicants and businesses; to refinance or consolidate such liabilities into long-term, low-interest or no-interest obligations; and to stabilize operations necessary to maintain licensure, compliance and ongoing business operations.\r\nSECTION X. Said section 14A of said chapter 94G, as so appearing, is hereby further amended by inserting after subsection (c) the following subsection:-\r\n(d) The executive office of economic development, in consultation with the cannabis social equity advisory board, the cannabis control commission and the department of revenue, shall establish an application process for loans authorized in subsection (a) for the payment, refinancing or consolidation of outstanding tax liabilities owed to the commonwealth by social equity program participants, economic empowerment priority applicants and social equity businesses certified by the cannabis control commission and may administer and disburse such loans. The executive office shall examine mechanisms to consolidate such tax liabilities into long-term, low-interest or no-interest loans, including, but not limited to, interest rate buy-downs, loan guarantees, pooled repayment vehicles and partnerships with community development financial institutions, credit unions, banks, and non-traditional lenders. Not later than March 1, 2027, the executive office shall file a report with the house and senate committees on ways and means and the clerks of the house of representatives and the senate detailing: (i) the design and implementation status of such application process; (ii) estimated demand for grants and loans under subsection (a); (iii) the total amount of tax liabilities addressed or projected to be addressed; (iv) any statutory or regulatory barriers to implementation; and (v) recommendations for further legislation.\"\r\n"}