(a)(1) There is established an account to be known as the “cannabis regulatory and investment account” which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account. Moneys in the account shall be allocated by the Secretary of the Office of Policy and Management, in consultation with the Social Equity Council, as defined in § 21a-420, to state agencies for the purpose of paying costs incurred to implement the activities authorized under RERACA, as defined in § 21a-420.

(2) Notwithstanding the provisions of § 21a-420e, for the fiscal years ending June 30, 2022, and June 30, 2023, the following shall be deposited in the cannabis regulatory and investment account: (A) All fees received by the state pursuant to § 21a-421b and subdivisions (1) to (11), inclusive, of subsection (c) of § 21a-420e; (B) the tax received by the state under § 12-330ll; and (C) the tax received by the state under chapter 219 from a cannabis retailer, hybrid retailer or micro-cultivator, as those terms are defined in § 12-330ll.

(3) At the end of the fiscal year ending June 30, 2023, all moneys remaining in the cannabis regulatory and investment account shall be transferred to the General Fund.

(b) (1) There is established an account to be known as the “social equity and innovation account” which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account. Moneys in the account shall be allocated by the Secretary of the Office of Policy and Management, in consultation with the Social Equity Council, to state agencies for the purpose of (A) paying costs incurred by the Social Equity Council, (B) administering programs under RERACA to provide (i) access to capital for businesses, (ii) technical assistance for the start-up and operation of a business, (iii) funding for workforce education, and (iv) funding for community investments, and (C) paying costs incurred to implement the activities authorized under RERACA.

(2) Notwithstanding the provisions of sections 21a-420e and 21a-420o, for the fiscal years ending June 30, 2022, and June 30, 2023, the following shall be deposited in the social equity and innovation account: All fees received by the state pursuant to sections 21a-420l, 21a-420o and 21a-420u and subdivisions (12) and (13) of subsection (c) of § 21a-420e.

(3) At the end of the fiscal year ending June 30, 2023, five million dollars shall be transferred from the social equity and innovation account to the General Fund, or, if the account contains less than five million dollars, all remaining moneys in the account. All moneys in the account not transferred to the General Fund pursuant to this subdivision shall be transferred to the Social Equity and Innovation Fund established under subsection (c) of this section.

(c) (1) On and after July 1, 2022, there is established a fund to be known as the “Social Equity and Innovation Fund” which shall be a separate, nonlapsing fund. The fund shall contain any moneys required by law to be deposited in the fund and shall be held by the Treasurer separate and apart from all other moneys, funds and accounts. Moneys in the fund shall be appropriated for the purposes of providing the following: Access to capital for businesses; technical assistance for the start-up and operation of a business; funding for workforce education; funding for community investments; and paying costs incurred to implement the activities authorized under RERACA. All such appropriations shall be dedicated to expenditures that further the principles of equity, as defined in § 21a-420.

(2) (A) For the purposes of subdivision (1) of this subsection, for the fiscal year ending June 30, 2023, and for each fiscal year thereafter, the Social Equity Council shall transmit, for even-numbered years, estimates of expenditure requirements and for odd-numbered years, recommended adjustments and revisions, if any, of such estimates, to the Secretary of the Office of Policy and Management, in the manner prescribed for a budgeted agency under subsection (a) of § 4-77. The council shall recommend for each fiscal year commencing with the fiscal year ending June 30, 2023, appropriate funding for all credits payable to angel investors that invest in cannabis businesses pursuant to § 12-704d.

(B) The Office of Policy and Management may not make adjustments to any such estimates or adjustments and revisions of such estimates transmitted by the council. Notwithstanding any provision of the general statutes or any special act, the Governor shall not reduce the allotment requisitions or allotments in force pursuant to § 4-85 or make reductions in allotments in order to achieve budget savings in the General Fund, concerning any appropriations made by the General Assembly for the purposes of subdivision (1) of this subsection.

(d) On and after July 1, 2022, there is established a fund to be known as the “Prevention and Recovery Services Fund” which shall be a separate, nonlapsing fund. The fund shall contain any moneys required by law to be deposited in the fund and shall be held by the Treasurer separate and apart from all other moneys, funds and accounts. Moneys in the fund shall be appropriated for the purposes of (1) substance abuse prevention, treatment and recovery services, and (2) collection and analysis of data regarding substance use. The Social Equity Council may make recommendations to any relevant state agency regarding expenditures to be made for the purposes set forth in this subsection.