{"id":74358,"date":"2024-04-18T06:35:01","date_gmt":"2024-04-18T14:35:01","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/04\/18\/national-conference-of-state-legislatures-calls-on-congress-to-pass-marijuana-banking-bill-as-part-of-unrelated-package-as-lawmakers-have-discussed\/"},"modified":"2024-04-18T12:46:05","modified_gmt":"2024-04-18T20:46:05","slug":"national-conference-of-state-legislatures-calls-on-congress-to-pass-marijuana-banking-bill-as-part-of-unrelated-package-as-lawmakers-have-discussed","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/04\/18\/national-conference-of-state-legislatures-calls-on-congress-to-pass-marijuana-banking-bill-as-part-of-unrelated-package-as-lawmakers-have-discussed\/","title":{"rendered":"National Conference Of State Legislatures Calls On Congress To Pass Marijuana Banking Bill As Part Of Unrelated Package As Lawmakers Have Discussed"},"content":{"rendered":"

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A group that represents state lawmakers across the U.S. is calling on Congress to \u201cquickly\u201d attach a bipartisan marijuana banking bill to unrelated Federal Aviation Administration (FAA) reauthorization legislation and pass the reform.<\/p>\n

In a letter sent to House and Senate leadership on Wednesday, the National Conference of State Legislatures (NCSL) said lawmakers should move forward with plans to use the FAA measure as a vehicle for the Secure and Fair Enforcement Regulation (SAFER) Banking Act.<\/p>\n

\u201cThe inability of legal state cannabis businesses to receive financial services from the federal banking system creates an unsafe position for these legal entities, as well as taxation and compliance problems for states that have exercised their authority to legalize cannabis,\u201d NCSL CEO Tim Storey wrote to the congressional lawmakers.<\/p>\n

\u201cThe SAFER Banking Act would provide much-needed banking resources to these legitimate businesses and help facilitate secure, simpler and more enforceable business activity in nearly every state,\u201d he said.<\/p>\n

While the vast majority of states have enacted some form of cannabis legalization, \u201clegitimate business owners must continue to rely on cash-only cannabis transactions,\u201d the letter says.<\/p>\n

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NCSL urges Congress to take action on the SAFER Banking Act, which would provide a much-needed solution for financial institutions serving legitimate cannabis businesses in nearly every state and Washington, D.C.<\/p>\n

Read the full letter: https:\/\/t.co\/nHCXlvVVzO<\/a> pic.twitter.com\/EwiPlFhaod<\/a><\/p>\n

\u2014 NCSL (@NCSLorg) April 18, 2024<\/a><\/p>\n<\/blockquote>\n

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\u201cThis exchange increases the real risk that they, their employees and customers become prime targets for theft, burglary, armed robbery and other crimes that jeopardize the safety of person and property, as well as endanger the greater communities where your constituents live and work and these businesses operate,\u201d it says<\/a>.<\/p>\n

NCSL, which represents the legislatures of states and territories across the country, has long advocated for cannabis banking reform<\/a>, and it also\u00a0voted to adopt a policy position in favor of federal marijuana descheduling<\/a> in 2022.<\/p>\n

\u201cCannabis will remain illegal under the SAFER Banking Act, and we strongly believe that supporting this legislation is not akin to endorsing its legalization under federal or state law. Instead, support for this act would help to resolve the long-standing tension between federal and state law with respect to banking and other financial services by allowing financial institutions to provide services to these legal businesses without penalty. The legislation would help reduce threats to public safety, enable better monitoring of the financial activity and enforcement of legal cannabis businesses, and demonstrate respect for state authority to legislate in this area.\u201d<\/p>\n

Congressional lawmakers from across the aisle have been weighing in on the prospects of the SAFER Banking Act\u2014sharing predictions about the prospects of passage, different legislative vehicles to advance the reform<\/p>\n

Sen. Steve Daines (R-MT), the GOP sponsor of the cannabis banking bill, reiterated in an interview with The Dales Report that he believes Congress is in \u201cthe best spot we\u2019ve ever been in getting SAFE Banking across the finish line.\u201d<\/a><\/p>\n

Bipartisan members have also been discussing the possibility of combining cryptocurrency regulation legislation with the marijuana banking bill<\/a> as part of a potential add to the FAA reauthorization, which must pass by May 10.<\/p>\n

\u2014
\nMarijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills<\/a> in state legislatures and Congress this year. Patreon supporters<\/a> pledging at least $25\/month get access to our interactive maps, charts and hearing calendar so they don\u2019t miss any developments.<\/strong>
\n\"\"<\/a>
\nLearn more about our marijuana bill tracker<\/a> and become a supporter on Patreon<\/a> to get access.
\n\u2014<\/strong><\/strong><\/p>\n

Senate Majority Leader Chuck Schumer (D-NY)\u00a0recently reiterated his intent to\u00a0pass legislation to \u201csafeguard cannabis banking\u201d as part of a \u201cbusy agenda\u201d<\/a>\u00a0that he hopes to achieve in the \u201cweeks and months ahead,\u201d though he again stressed the need for bipartisan cooperation.<\/p>\n

He also recently asked people to\u00a0show their support for the SAFER Banking Act by signing a petition<\/a>\u00a0as he steps up his push for the legislation. A poll released last month by the American Bankers Association (ABA) shows that roughly three out of five Americans\u00a0support allowing marijuana industry access to the banking system<\/a>.<\/p>\n

Rep. Nancy Mace (R-SC) said last week that that\u00a0\u201cif Republicans want to keep the House,\u201d they should pass the marijuana banking bill<\/a>, arguing that \u201cthere are votes\u201d to approve it.<\/p>\n

Schumer told Marijuana Moment last month that\u00a0the bill remains a \u201cvery high priority\u201d for the Senate<\/a>, and members are having \u201cvery productive\u201d bicameral talks to reach a final agreement.<\/p>\n

Senate Banking Committee Chairman Sherrod Brown (D-OH) also said last month that\u00a0passing the SAFER Banking Act off the floor is a \u201chigh priority.\u201d<\/a>\u00a0However, he also recently said in a separate interview that\u00a0advancing the legislation is complicated by current House dynamics<\/a>.<\/p>\n

House Majority Whip Tom Emmer (R-MN) separately said during a recent American Bankers Association (ABA) summit that he wants to see the SAFER Banking Act move.<\/p>\n

He said that, \u201cfor whatever reason, the federal government has been slow\u201d to act on the incremental reform that he supports even though he doesn\u2019t identify as \u201ca marijuana guy.\u201d<\/p>\n

At the close of the first half of the 118th Congress in December, Schumer said in a floor speech that lawmakers would \u201chit the ground running\u201d in 2024, aiming to\u00a0build on bipartisan progress on several key issues, including marijuana banking reform<\/a>\u2014though he noted it \u201cwon\u2019t be easy.\u201d<\/p>\n

Meanwhile, a Democratic senator on Wednesday pressed Attorney General Merrick Garland about the marijuana banking bill<\/a>, seeking his perspective on a controversial section concerning broader financial regulations.<\/p>\n

Garland said he wasn\u2019t familiar with Section 10 of the SAFER Banking Act, but he agreed in theory that the provision could be problematic if it meant people suspected of committing financial crimes could be tipped off in the midst of an investigation. However, Sen. Jack Reed (D-RI) noted that the language was revised following negotiations and no longer constitutes a threat as amended.<\/p>\n

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Senators Approve Resolution Condemning Russian Imprisonment Of American Who Used Medical Marijuana As Opioid Alternative<\/a><\/p>\n<\/blockquote>\n

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The post National Conference Of State Legislatures Calls On Congress To Pass Marijuana Banking Bill As Part Of Unrelated Package As Lawmakers Have Discussed<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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A group that represents state lawmakers across the U.S. is calling on Congress to \u201cquickly\u201d attach a bipartisan marijuana banking bill to unrelated Federal Aviation Administration (FAA) reauthorization legislation and pass the reform. In a letter sent to House and Senate leadership on Wednesday, the National Conference of State LegislaturesContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":74359,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74358"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=74358"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74358\/revisions"}],"predecessor-version":[{"id":74360,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/74358\/revisions\/74360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/74359"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=74358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=74358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=74358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}