Office of Social Equity - Community Reinvestment and Repair Fund - Modifications

HB 1364 shifts administration of Maryland's Community Reinvestment and Repair Fund from the Comptroller to the Office of Social Equity. It requires the Office to oversee fund distribution, train recipients, and establish a new Community Reinvestment and Repair Advisory Board. The bill also mandates counties to follow specific rules when using the fund, requires annual county plans for distributing funds to community organizations, and limits administrative costs to $50,000 annually. This fund, financed by cannabis tax revenues, directly supports communities disproportionately impacted by past drug enforcement policies. The bill repeals prior reporting requirements for the Office while adding new accountability measures for fund usage.