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Washington State Bill Analysis — HB 1827, Creating the Community Reinvestment Account

Summary

Office of Program Research bill analysis for the Community & Economic Development Committee on HB 1827, creating the community reinvestment account and community reinvestment program. The sponsors are Representatives Morgan, Simmons, Ormsby, Harris-Talley and Kloba, by request of Office of the Governor. The analysis states that, beginning in fiscal year 2023 and each fiscal year thereafter, $125 million must be transferred from the Dedicated Marijuana Account into the Community Reinvestment Account and appropriated to the Department of Commerce to establish a cannabis equity grant program. Listed uses include economic development, postconviction legal assistance, violence intervention, and reentry services. Hearing Date: 1/19/22.

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“Washington State Bill Analysis — HB 1827, Creating the Community Reinvestment Account.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-01-25-a29632-d237867-bill-analysis-c20c7a2bc2/, SHA-256 06dfb6be9485a757bc5f7d403bf422a8015f1c33f6f4cdb1f53591f55bd76afb.

Full text

Washington State                 BILL
House of Representatives
Office of Program Research  ANALYSIS
Community & Economic Development
Committee
                                        HB 1827
Brief Description: Creating the community reinvestment account and community reinvestment
     program.

Sponsors: Representatives Morgan, Simmons, Ormsby, Harris-Talley and Kloba; by request of
    Office of the Governor.


                                     Brief Summary of Bill
          • Requires $125 million to be transferred from the Dedicated Marijuana
            Account into the Community Reinvestment Account and appropriated to
            the Department of Commerce to establish a cannabis equity grant
            program, beginning in fiscal year 2023 and each year thereafter.


Hearing Date: 1/19/22

Staff: Cassie Jones (786-7303).

Background:

The Dedicated Marijuana Account is an appropriated account. All moneys received by the
Liquor and Cannabis Board from marijuana-related activities must be deposited in this account.
These moneys include marijuana excise taxes collected from sales of marijuana and marijuana
products, license fees, penalties, and forfeitures from marijuana producers, processors,
researchers, and retailers. Moneys from the account are distributed to agencies, local
governments, and to the Basic Health Plan Trust Account. At the end of each fiscal year,
unappropriated amounts in the Dedicated Marijuana Account are transferred to the State General
Fund.




     This analysis was prepared by non-partisan legislative staff for the use of legislative
     members in their deliberations. This analysis is not part of the legislation nor does it
     constitute a statement of legislative intent.

House Bill Analysis                             -1-                                         HB 1827
Summary of Bill:

Beginning in fiscal year 2023, and each fiscal year thereafter, $125 million must be transferred
into the Community Reinvestment Account (Account) and appropriated to the Department of
Commerce to establish a cannabis equity grant program.

The Account is created in the State Treasury. Moneys in the Account may be spent only after
appropriation. Expenditures from the account may be used for:
   • economic development, which includes addressing wealth disparities to promote asset
     building such as home ownership and expanding access to financial resources including,
     but not limited to, grants and loans for small businesses and entrepreneurs, financial
     literacy training, and other small business training and support activities;
   • civil and criminal legal assistance to provide postconviction relief and case assistance,
     including the expungement of criminal records and vacation of criminal convictions;
   • community-based violence intervention and prevention services; and
   • reentry services to facilitate successful transitions for persons formerly incarcerated in an
     adult correctional facility or juvenile residential facility in Washington.

The Account is added to the statutory list of accounts that receive their proportionate share of
earnings based on average daily balance.

Appropriation: None.

Fiscal Note: Requested on January 11, 2022.

Effective Date: This bill takes effect 90 days after adjournment of the session in which the bill
is passed, except for section 5, relating to account earnings, which takes effect July 1, 2024.




House Bill Analysis                             -2-                                         HB 1827

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