The California Governor’s Office of Business and Economic Development (GO-Biz) announced a new batch of cannabis tax revenue community investments on May 31. This round’s grants for fiscal year 2023-2024, which was given to recipients from the California Community Reinvestment Grants program (CalCRG), includes 30 organizations and a total of $46.6 million.
In order to be chosen to receive funds through the CalCRG program, applicants must meet a variety of criteria. Organization must be organized and in good standing six months before being chosen, must maintain their tax-exempt status with the IRS and California Franchise Tax Board, must be an active registered organization through the California Secretary of State’s Office, and have a physical address in California, among other requirements.
The most recent round of applicants includes two organizations located in Alameda County, two in Contra Costa county, two in Fresno County, one in Humboldt County, nine in Los Angeles County, two in Sacramento County, one in San Diego County, three in the city and county of San Francisco, and two in Santa Cruz County. Additionally, six applicants hold established residence in more than one county.
Among the recipients with the highest amount of funds granted, four received $3 million, including Poverello House in Fresno County, Downtown Women’s Health Center in Los Angeles County, and Get Lit-Words Ignite, Inc. in Los Angeles County, and PRC in City/County of San Francisco. The lowest granted amount included was Monument Impact in Contra Costa County, which received $600,000.
The program first began accepting applications from organizations in 2018. In April 2020 for FY 2019-2020, GO-Biz awarded $30 million in cannabis tax revenue toward 54 organizations. The following year, FY 2020-2021 awarded 59 organizations which received a portion of $15 million. For FY 2021-2022, 78 organizations received a split amount of $35.5 million. Last year for FY 2022-2023, GO-Biz awarded $50 million to 31 …
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Author: Nicole Potter / High Times
