This bill introduces new regulations for credit transactions among marijuana licensees in Massachusetts, limiting credit terms to a maximum of sixty days from product delivery to debt settlement. If a licensee fails to settle debts within this period, the debt is considered overdue, rendering the licensee delinquent. Upon delinquency, the credit-extending licensee must notify the commission and the debtor via certified mail within three days. The commission must then list the delinquent licensee's details on its website within five days to inform other licensees. Exceptions to these regulations may apply in cases of severe business disruptions caused by unforeseeable events like riots or natural disasters. Affected licensees can request a temporary suspension of the credit terms, prompting a commission hearing within twenty-one days to assess the situation. During this period, and if justified, the licensee will not be marked delinquent. Licensees listed as delinquent are barred from receiving marijuana products on credit and must operate on a cash-only basis. Furthermore, any changes in ownership or control of a delinquent licensee require all debts to be settled unless under court-appointed circumstances. Once debts are paid, the commission should promptly remove the licensee from the delinquency list upon notification. Non-compliance with these rules could result in fines up to $5,000. The commission is tasked with formulating the necessary regulations within ninety days following the bill's enactment.

The bill amends Chapter 94I of the General Laws related to medical marijuana regulation in Massachusetts. It broadens the definition of "card holder" to include individuals registered as medical marijuana patients from any U.S. jurisdiction. The bill specifies that only those licensed by the Commission can dispense or deliver medical marijuana, updating the terminology by replacing "qualifying patients" and "personal caregivers" with "card holders." It eliminates the requirement for licensees to cultivate, process, and dispense simultaneously to maintain their medical marijuana treatment center license, and sets a financial requirement for applicants, with a minimum of $500,000 in initial capital for an initial license and $400,000 for subsequent applications. Moreover, the bill establishes a cap on licensing fees for medical marijuana treatment centers at a maximum of $1,000, with social equity businesses as defined in Chapter 94G being exempt. By incorporating Chapter 94I into the regulatory framework of Chapter 94G, it provides comprehensive oversight. The proposed changes refine regulatory language, establish fair conditions for license holders, and mitigate financial and operational challenges for social equity businesses in the medical marijuana sector.