This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.
Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Now we look to the Senate, where we are cautiously optimistic.
Drug Enforcement and Policy Center, August, 2022. According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans. Ohio State Legal Studies Research Paper No.
The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.
Turning our attention to the federal government, Senate Banking Committee chair Mike Crapo (R-ID) got a letter this week from Republican legislators asking him to oppose marijuana banking. Finally, the NFL’s new collective bargaining agreement with players may include drastically different rules concerning cannabis use.
CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Drug Enforcement and Policy Center, August, 2022. Ohio State Legal Studies Research Paper No. 21 Pages Posted: 12 Aug 2022. Cat Packer.
Activists in Mississippi have collected approximately two thirds of the needed signatures to qualify a medical cannabis ballot initiative in 2020. Update : SB 51 is scheduled for a hearing in the Assembly Banking And Finance Committee on 6/24/19. Click here to email your lawmakers in support of banking access. CA resident?
The big news this week is that cannabis banking is included in the latest federal relief bill. cannabis banking. Whether the Senate will retain this language, considering that they have taken no action on the SAFE Banking Act, is not certain. No word yet on any change in policy. SBA funds, however, are not. and finally.
We’ll hand them an iPad, and ask them to fill out a couple quick surveys,” said Michael McDonell, chair of WSU’s Collaboration on Cannabis Policy, Research and Outreach. Some of the outcomes we’re interested in looking at, is what kind of cannabis are they using?
The current public policies in local and state cannabis ordinance and equity programs may enhance racial disparities if they follow the pattern of exclusion and criminalization that encompass past policies promoted as beneficial to African Americans but uphold racial capitalistic practices. Authored By: By Dr. Ayoka Nurse.
The Associated Press is reporting that California is quickly moving forward with a plan to establish a system of banks to work with the marijuana industry which is legal under state law, but illegal under federal law. “This is as close as we can get until the federal government changes its policy,” said Sen. .
The big news on the federal level was the reintroduction of the SAFE Banking Act , by sponsor Ed Perlmutter, a Democrat from Colorado. And the NFL is thinking of changing its policies around marijuana in the next collective bargaining agreement.
This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. MN resident?
FIRST CONGRESSIONAL HEARING HELD ON CANNABIS BANKING. Today the House Financial Services’ Subcommittee on Consumer Protection and Financial Institutions held the first-ever congressional hearing on the issue of cannabis banking. . From Rep Heck’s Office. Feb 13, 2019 . Press Release. Washington, D.C. Ed Perlmutter (CO-07).
Senator Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act — to permit states to establish their own marijuana regulatory policies free from federal interference. House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week.
Mike Crapo urging him to support the SAFE Banking Act and hold a markup in the Senate Banking Committee. . The House of Representatives passed the SAFE Banking Act by a vote of 321-103 in September, with 91 Republicans voting in favor. Without banking services, U.S. This is not a partisan issue, or a regional issue.
As we collectively analyze and respond to emerging issues in the cannabis industry, we will continue to be the preeminent voice in cannabis regulatory policy.”. Banking, Finance, and Taxation. Packaging, Labeling, and Advertising. Cannabinoid Hemp. Impaired Driving and Traffic Safety. Environment and Energy. Federal Engagement.
This randomized controlled trial will collect data on 13 U.S. A memo from the Farm Credit Administration to farm credit banks and associations on hemp financing has The National Industrial Hemp Council concerned that growers could have difficulty obtaining loans to expand their operations. Agri Pulse.
Common and recurring themes in the report that stand out are the Racial and/or ethnic Minority- and Woman-owned Business Enterprises (M/WBEs) that continue to voice concerns and challenges for accessing capital and financial support, as well complex cannabis regulations and policies burdens.
Massachusetts municipalities have collected more than $53 million in “impact” fees from cannabis companies since the launch of adult-use sales in 2018, according to a Northeaster University study published by the Massachusetts Cannabis Business Association outlined in a Boston Globe report. The Franklin Observer writes.
The measure, which makes clear that the group “takes no position as to whether cannabis should be legalized under the laws of the United States or of any state,” highlights the public safety issues caused by current federal policy, which makes many financial services providers reluctant to work with the marijuana industry.
The Cannabis Freedom Alliance (CFA) will take this opportunity to provide you each month with relevant news, policy, and legislative updates on how CFA and its members are marching towards the goal of ending cannabis prohibition. A new report from the Marijuana Policy Project shows that states have collected $7.9
Hoyer, D-Maryland, announced on the House floor that he will schedule the SAFE Banking Act for a vote. Full report: In historic move, US House to vote on cannabis banking bill next week. As we reported last Friday, it looks like we are going to have a historic vote on cannabis policy reform next week! Just hours ago, U.S.
In its budget forecast, Maine is banking on $22 million in adult-use sales in the first three and a half months after the market’s launch. With a 10 percent sales tax, and a 10 percent excise tax, Maine is expecting to collect about $4.4 With a 10 percent sales tax, and a 10 percent excise tax, Maine is expecting to collect about $4.4
Alison Felix , Senior Policy Advisor , Sam Chapman , Associate Economist , and Jordan Bass , Research Associate. v This coincided with changes in enforcement policy from the U.S. Tax Collections in the Marijuana Industry. xxix Tax collections through September were 11.3 Department of Justice (DOJ).
This only reaffirmed that social justice needs to be a priority when discussing marijuana policy in this community. June 2018: Collected 79 Candidate Surveys from across Nevada. to engage their lawmakers in marijuana policy reform. It was amazing to see an increase in younger voters registering! July 2018: Lobby Day in DC.
As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act.
You can read more about product packaging and labeling requirements on the Understanding Board Interim Policies for Packaging and Labeling section of the LCB website. The policy only applies to approved owners who are investing their own personal money into the business. Have lost their bank. Payment Methods.
Recently, McConnell has been quite vocal about his unhappiness over the inclusion of cannabis banking provisions in the latest COVID-19 relief bill. The United States Supreme Court reinstated Idaho’s restrictions on signature collection, nullifying a lower court decision. international news. and finally.
While these businesses must pay taxes, they are largely unbanked due to regulatory hurdles that prevent such businesses from accessing banking and other financial services. [10] 10] Without bank accounts, these businesses must make tax payments in person, in cash, at regional IRS offices. percent of federal receipts in FY2020.
Legislation opens doors for cannabis policy reform in the current Congress. Cory Booker (D-NJ) and Ron Wyden (D-OR), released draft legislation today that would remove cannabis from the schedule of controlled substances while allowing states to determine their own cannabis policies. An End to Cannabis Banking Woes?
Social network’s internal policy team elects to keep global ban on promoting pot sales or selling marijuana outright, after months of debate ,” according to Max Cheney at MarketWatch. BANKING: The growth? The Republican-controlled US Senate hosted a hearing on cannabis banking on July 23, 2019.
The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. We are not going to attempt to tackle the myriad policy issues of this alternative, but we do have some observations.
cannabis industry is of course locked out of American banking. On the last Monday of November, Senter and other stakeholders activists d gathered in downtown Oakland to rally and address state and local policy issues relating to security, tax amnesty, and small businesses. Federally prohibited, the U.S. More are struggling to recover.
California’s failure to carefully heed all of the admonitions of the Report of the Blue Ribbon Commission in its implementation of cannabis regulation is a far more pervasive cause of the present chaos than tax rates that are too high and a lack of banking. Underground cannabis businesses have managed for generations without banking.
The End of the Collective Era. 9, 2019, all cannabis collectives and cooperatives must be licensed, except for (a) individual patients and (b) caregiver gardens serving NO more than five (5) patients. December 2019 – Federal banking regulators take steps to allow for financial services for hemp related businesses. .
Ed Perlmutter’s (D-CO) Secure and Fair Enforcement Banking (SAFE) Banking Act , which was most recently passed by the House in 2021. Provide for reforms to the treatment of marijuana-related activities or convictions in federal immigration policy. Chuck Schumer (D-NY), and Rep. The Political Horizon.
Specifically, they called for the passage of the Secure and Fair Enforcement Banking Act, a pending bipartisan bill that would allow financial institutions to serve legitimate cannabis businesses in states that have legalized the drug. Congress can solve the cannabis banking conundrum now. By Rob Nichols, Jim Nussle.
The indica-dominant strain had been perfected over centuries before Dutch seed bank Sensi Seeds made it available for everyone to grow. By submitting this form, you will be subscribed to news and promotional emails from Leafly and you agree to Leafly’s Terms of Service and Privacy Policy. Afghan Kush. Courtesy of Tweed.
From the South, McKay has a long history of business and civic involvement, serving on community and company boards including US Bank, The Daily Beast, Pike Place Market, Mary’s Place, Pilchuck School of Glass, and Seattle Opera. She trained a team including architects, engineers, and other construction professionals on new policy.
The CCPA is aimed towards bolstering consumers’ privacy rights by instituting notice, storage, retention, security, and other requirements related to collecting consumers’ personal information. Covered Employers Must Provide Notice Regarding Data Collection, and May Be Liable for Statutory Damages for Any Security Breach.
Today, Maya (Maya PBC) and the National Psychedelics Association (NPA) announced their partnership in support of the implementation of Oregon’s Measure 109, the first state-approved policy to allow the regulated use of psilocybin products in a facilitated setting.
Cory Booker and Ron Wyden in February formally announced a collective effort to advance comprehensive marijuana reform legislation. SAFE Banking Act. The banking initiative had been amended into the defense bill in September by the House. The measure faced opposition from key Senate Democrats and the Drug Policy Alliance.
Last week, Al Harrington’s Viola announced their first-ever talent partnership with Iverson, including a collection of strains that honor the rich legacy of the freshly-minted Hall of Famer. Courtesy of Viola and the Iverson Collection). Viola and the Iverson Collection. Courtesy of Viola and the Iverson Collection).
We organize all of the trending information in your field so you don't have to. Join 14,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content