CRC presents CEEF findings: social equity excise fee projected to yield $12.4M in FY2026, recommendations to fund grants and loans

Commissioner Mapp presented the Cannabis Equity and Economic Fund (CEEF) report during the New Jersey Cannabis Regulatory Commission’s April 23 meeting, summarizing revenue projections, awardee demographics and public recommendations for spending social equity excise fee (SEAF) revenue.

Mapp said staff logged 3,112 recreational cannabis applications as of December 2025, that 69% of awardees are diversely owned and 23% are social equity businesses, and that the social equity excise fee has remained $2.50 per ounce as of January 2026. The report estimates the fee will generate $12.4 million in fiscal year 2026 and $14.1 million in fiscal year 2027; after a required 15% deposit to the underage deterrents fund and other set-asides, the CRC estimates approximately $9.6 million will be available to recommend for grants or loans in FY2027.

The report consolidated public recommendations heard at three statewide hearings (Jan. 15, 21 and 29, 2026) and in written comments. Suggested uses included education and job-readiness programs, vocational training, technical assistance for applicants and licensees, capital access through grants and loans (including coordination with the New Jersey Economic Development Authority’s cannabis equity program), expansion of mental health and harm-reduction services, and proposals to improve medical-patient access, including insurance coverage or grants for qualifying patients who cannot afford out-of-pocket costs. Commissioner Mapp repeatedly noted that while the CRC can recommend allocations, the governor and legislature have the sole authority to appropriate and distribute excise-fee revenue through the annual appropriations process.

"By law 15% of this revenue is required to be deposited into the underage deterrents fund," Mapp said, and recommended prioritizing investments that benefit communities most harmed by prior cannabis prohibition through grants and low-interest loans to diversely owned and social equity applicants.

The commission acknowledged the report and thanked staff; no allocation decision was made at the meeting because appropriations are controlled by the governor and legislature.