President Donald Trump signs ‘Right to Try’ legislation, the California Senate passes a proposal to create state-chartered banks for the marijuana industry, and the Illinois Senate unanimously passed The Industrial Hemp Act.
‘Right to Try’ law
Will the US “right to try” law” include medical marijuana? It will, but only for the terminally ill. On Wednesday, May 30, 2018, President Trump signed into law S. 204, that would allow terminally ill patients to try experimental treatments that are not yet approved by the US Food and Drug Administration (FDA).
— Donald J. Trump (@realDonaldTrump) May 30, 2018
Trump noted in a White House press release, “With the Right to Try law I’m signing today, patients with life-threatening illnesses will finally have access to experimental treatments that could improve or even cure their conditions.” While medical marijuana is already legal in 29 states plus the District of Columbia, those terminally ill patients seeking access to the remedial benefits of cannabis would first need to qualify under their respective areas’ criteria.
California Senate Backs Banks for Marijuana
The California State Senate voted Wednesday, May 30, 2018, to create a system of state-chartered banks for the state’s budding marijuana industry. Senate Bill 930 was approved by a bipartisan vote of 32-6 and seeks to allow the state’s licensed marijuana businesses to legally access state-regulated banks and credit unions.
California marijuana business must haul tens of thousands of dollars in cash to pay taxes. But that will change> Now CA legislature is about to approve a state bank, that will allow cannabis businesses to legally use a banking system. https://t.co/rpZPGwWoom
— Irony (@politicalirony1) May 31, 2018
The banks and credit unions would be regulated by the Department of Business Oversight and allowed to conduct transactions for cannabis businesses.
Illinois Senate Passes The Industrial Hemp Act
Illinois’ potential use of industrial hemp grew dramatically on Wednesday with a unanimous 56-0 vote in the state Senate. Introduced by Democratic Sen. Toi Hutchinson, the bill is now headed for Republican Gov. Bruce Rauner’s desk.
The Illinois Senate has just voted 56-0 to Concur on SB2298, the Industrial Hemp Act, sending the bill to Governor Rauner! Thanks to Sen Toi Hutchinson and Rep Kelly Cassidy for passing this bill to legalize hemp in Illinois!
— ILNORML (@Illinois_NORML) May 30, 2018
If signed by the Rauner, SB 2298 would amend the state’s legal definition of cannabis to exclude industrial hemp. The legislation stipulates “that a person desiring to grow, cultivate, or process industrial hemp or industrial hemp products must be licensed by the Department of Agriculture,” according to a press release on Wednesday, May 30, 2018, by the Illinois Senate Democrats.