Marijuana-related businesses received critical support last week as more U.S. senators agreed to throw their support behind three essential bills.
Undeterred by the ominous smoke signals from the Trump administration, H.R. 2215 (Safe Act of 2017), H.R. 1823 (Marijuana Revenue and Regulations Act), and H.R. 1810 (Small Business Tax Equity Act of 2017) all received new cosponsors.
H.R. 2215 – Safe Act of 2017
A bill to allow marijuana businesses’ unfettered access to America’s financial institutions received three new cosponsors last week. Now with 35 cosponsors, H.R. 2215 seeks to reform federal banking rules and stop regulators from unjustly coercing U.S. banks from servicing the legal marijuana business sector. If passed, H.R. 2215 would “create protections for depository institutions that provide financial services to cannabis-related legitimate businesses, and for other purposes.”
H.R. 1823 – Marijuana Revenue and Regulations Act
Intended to “amend the Internal Revenue Code of 1986 to provide for the taxation and regulation of marijuana products,” H.R. 1823 has accumulated two new cosponsors since last Monday. Focusing on inventory, packaging,…