CANNABIS EQUITY COMMISSION

Amends the Cannabis Regulation and Tax Act. In provisions regarding the Cannabis Equity Commission, adds to the ex officio membership the chairperson of the Agriculture Committee of the Senate, or his or her designee, who shall serve as co-chair of the Commission, and the chairperson of the Agriculture and Conservation Committee of the House of Representatives, or his or her designee, who shall serve as co-chair of the Commission, as well as members of the Illinois Black Caucus and the Illinois Legislative Latino Caucus (previously, the Governor, or his or her designee, served as chair of the Commission). Further adds to the membership of the Commission one individual who is a journalist and representative of the news media with work experience covering the national and local cannabis market as well as issues related to disproportionately impacted areas. Requires appointment by the co-chairs of the Commission within 90 days after a vacancy in membership under certain provisions. Provides that the Commission shall issue an annual report to the General Assembly that includes, without limitation, an evaluation of the current market, data regarding social equity operations in the State, community reinvestment data from the Restore, Reinvest, and Renew (R3) Program, and tax revenues, as well as recommendations for policy changes that focus on supporting social equity applicants, operators, and communities harmed the most by the failed war on drugs.