The Washington CannaBusiness Association (WACA) on Friday requested that legislation it proposed last September to create a cannabis social equity fund be withdrawn for consideration this year.
WACA requested the withdrawal of two bills: One called for removing barriers to capital for minority business owners. The other sought to eliminate a residency requirement for potential investors in the MJ market.
The group made the withdrawal request following a state House committee hearing on one of the proposed bills. It did not give an explanation for the decision.
WACA, however, “remains concerned that Washington’s potentially unconstitutional ban on access to capital continues to be in effect,” Vicki Christophersen, executive director of the WACA, said in a statement.