Illinois Cannabis Business Licenses

Illinois Cannabis Business Licenses

Shelby Knight
APRIL 4TH, 2022

Illinois legalized adult-use cannabis in 2019. In 2021 Illinois sold more than $1 billion in Marijuana.

The Illinois Department of Financial and Professional Regulation (IDFPR) plans to issue 55 more conditional dispensary licenses under a new application process to be distributed across the existing 17 BLS Regions detailed in the CRTA. The application process for the licenses is anticipated to open in the late summer or early fall of 2022.

The IDFPR’s new application process plans to simplify the application process, remove barriers for social equity applicants, and expand opportunities targeted to the communities most impacted by the failed war on drugs.

 

Principal officers cannot be included in more than one lottery entry during the license lottery process, and applicants cannot have more than one lottery entry across all 17 regions.

All applicants who submit an approved application will participate in the lottery. If deemed eligible for a conditional license, applicants must meet specific social equity criteria before the conditional license is issued.

 

The Cannabis Regulation & Tax Act 410 ILCS 705 establishes criteria for Social Equity Applicants as follows:

  • Has at least 51% ownership and control by one or more individuals who:
    • Have lived in a Disproportionately Impacted Area in 5 of the past ten years; OR
    • Have been arrested for, convicted of, or adjudicated delinquent for cannabis-related offenses eligible for expungement, including cannabis possession up to 500 grams or intent to deliver up to 30 grams; OR
    • Have a parent, spouse, or child that has been arrested for, convicted of, or adjudicated delinquent for cannabis-related offenses eligible for expungement, including possession of up to 500 grams or intent to deliver up to 30 grams; OR
    • By meeting alternate criteria, which will be described in the upcoming release of the new adult-use lottery rules

 

The Illinois Adult-Use Dispensary License allows for the purchase of cannabis from licensed cultivation centers and infusers and can sell cannabis to persons 21 years and older. Over 40 existing medical cannabis dispensary licenses are currently approved to cater to the adult-use market.

 

For new businesses, the state accepted applications in January 2020 to award up to 75 dispensary licenses by May 2020. However, only 21 applicants were chosen to proceed to the final phase: a lottery to award the dispensary licenses. Due to lawsuits filed against the state from applicants, the state ended up issuing 185 dispensary licenses through 3 separate lotteries held from July-August 2021.

 

For more information on Illinois cannabis programs, including details on upcoming available licenses- visit our State Page.

 

Interested in starting an Illinois cannabis business?

The Cannabis Business Advisors has successfully secured licenses for clients in over 20 markets across the United States. Call our office at (602)-290-9424 or email (info@thecannabisbusinessadvisors.com) to get started.

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