New Jersey Conditional Licenses: Time to Convert
If you’ve been awarded a Conditional cannabis license in New Jersey, congratulations!
This includes wins for every Canna Advisors’ client whose applications have been reviewed to date.
The first hard step is done. Now, it’s time to convert that conditional license into a full, annual license.
What Does a NJ Conditional License Mean?
New Jersey included conditional licenses as one path to getting approval to operate an adult-use business in the state. Conditional licenses allowed applicants to submit with less burdensome requirements than annual licenses, including these provisions:
- Lighter content burden, overall
- Specific income levels at the individual or couple level
- Less-finalized financial information, and
- Having a shortlist of locations identified, but without having a property completely locked down
Once the Cannabis Regulatory Commission (CRC) awards a conditional license, that applicant must then take steps to convert to an annual license within a specified timeframe:
- 120 days for the applicant to convert to an annual license
- 365 days for the applicant to have the final inspection
What Requirements are Necessary to Convert?
The Conditional applicant will have 120 days to get their facility and financing in order and then submit a conversion application, which is essentially the same rigorous process as an annual license.
To convert a Conditional license, the applicant must:
- Have a property secured
- Show proof of local support
- Show proof of a labor peace agreement
Upon preliminary award of a Conversion license, the applicant will have 365 days to request a final inspection from the Cannabis Regulatory Commission. As long as the applicant meets all requirements at the time, a final formal license will be issued.
What Resources are Available?
The clock is ticking. Start your conversion process now. Our team of NJ licensing experts can help you navigate this final phase of adult-use licensing.
Online resources are available from the state, but the volume of information can be daunting and many questions are left unanswered. Don’t let the clock run out or overlook important details to secure your full license.
From financial models and location selection to garnering local support and the nuance of labor peace agreements, our team can walk you through the next steps so that you successfully convert your conditional license.
Contact our New Jersey licensing experts to start your conversion application.