There is created in the State treasury a special fund, which shall be held separate and apart from all other State moneys, to be known as the Cannabis Business Development Fund. The Cannabis Business Development Fund shall be exclusively used for the following purposes:        (1) to provide low-interest rate loans to Qualified      Social Equity Applicants to pay for ordinary and necessary expenses to start and operate a cannabis business establishment permitted by this Act;        (2) to provide grants to Qualified Social Equity     Applicants to pay for ordinary and necessary expenses to start and operate a cannabis business establishment permitted by this Act;        (3) to compensate the Department of Commerce and     Economic Opportunity for any costs related to the provision of low-interest loans and grants to Qualified Social Equity Applicants;         (4) to pay for outreach that may be provided or     targeted to attract and support Social Equity Applicants and Qualified Social Equity Applicants;        (5) (blank);         (6) to conduct any study or research concerning the     participation of minorities, women, veterans, or people with disabilities in the cannabis industry, including, without limitation, barriers to such individuals entering the industry as equity owners of cannabis business establishments;        (7) (blank); and        (8) to assist with job training and technical     assistance for residents in Disproportionately Impacted Areas.

 Sec. 7-25. Transfer of license awarded to Qualified Social Equity Applicant.     (a) In the event a Qualified Social Equity Applicant seeks to transfer, sell, or grant a cannabis business establishment license within 5 years after it was issued to a person or entity that does not qualify as a Social Equity Applicant, the transfer agreement shall require the new license holder to pay the Cannabis Business Development Fund an amount equal to:         (1) any fees that were waived by any State agency     based on the applicant's status as a Social Equity Applicant, if applicable;        (2) any outstanding amount owed by the Qualified     Social Equity Applicant for a loan through the Cannabis Business Development Fund, if applicable; and        (3) the full amount of any grants that the Qualified     Social Equity Applicant received from the Department of Commerce and Economic Opportunity, if applicable.     (b) Transfers of cannabis business establishment licenses awarded to a Social Equity Applicant are subject to all other provisions of this Act, the Compassionate Use of Medical Cannabis Program Act, and rules regarding transfers. (Source: P.A. 101-27, eff. 6-25-19; 101-593, eff. 12-4-19.)