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The Delaware Senate has approved a House-passed bill that would enact state-level protections for banks that provide services to licensed marijuana businesses<\/a>\u2014sending it to the governor\u2019s desk.<\/p>\n The legislation, filed by Rep. Ed Osienski (D) and Sen. Trey Paradee (D), cleared the House in March and then moved through the Senate Health & Social Services Committee before being approved on the floor in a 16-5 vote on Tuesday.<\/p>\n The measure is designed to clarify that banks, credit unions, armored car services and accounting services providers are not subject to state-level prosecution simply for working with cannabis businesses.<\/p>\n State Treasurer Colleen Davis (D), who previously endorsed the marijuana banking proposal, said in a press release on Wednesday that the legislation represents \u201ca critical step forward for Delaware\u2019s cannabis industry.\u201d<\/p>\n \u201cBy ensuring safe access to banking services, we are empowering legitimate businesses to operate transparently and securely,\u201d she said.<\/p>\n Osienski, the sponsor, said lawmakers \u201cwant Delaware\u2019s safe and regulated industry to out-compete the illegal market.\u201d<\/p>\n \u201cBy providing dispensaries with a secure avenue to banking and compliance services, we empower them to contribute positively to our economy, keep costs down for the industry and customers, employ local talent, and fulfill their tax obligations,\u201d he said.<\/p>\n \u201cThis legislation is a critical step forward for Delaware\u2019s cannabis industry. By ensuring safe access to banking services, we are empowering legitimate businesses to operate transparently and securely.\u201dhttps:\/\/t.co\/S19A3zeuES<\/a><\/p>\n \u2014 Treasurer Colleen Davis (@TreasurerDavis) June 26, 2024<\/a><\/p>\n<\/blockquote>\n\n Paradee, for his part, said<\/a> that \u201cat the end of the day, cannabis retailers in Delaware are small businesses. They will be in our communities. They will hire Delawareans. They will pay their taxes. They will contribute to the economic development of this State.\u201d<\/p>\n \u201cBut with an over-reliance on cash-transactions, retailers are at a disadvantage in terms of their banking, compliance, and safety needs,\u201d he said. \u201cWith the passage of this legislation, the State can ensure that these types of businesses have a clear path towards access to those critical services.\u201d<\/p>\n According to the bill\u2019s<\/a> synopsis, it \u201caims to facilitate the operation of cannabis-related businesses by helping to ensure that such businesses have access to necessary financial and accounting services.\u201d<\/p>\n This represents the latest example of a state proactively seeking to provide marijuana banking protections as federal reform continues to stall. However, congressional leaders have often signaled that they intend to advance the Secure and Fair Enforcement Regulation (SAFER) Banking Act this year.<\/p>\n Meanwhile, the Delaware House approved a bill last week to launch recreational cannabis sales early<\/a> through existing medical marijuana dispensaries, while adopting amendments that appear partially responsive to equity-related concerns from advocates.<\/p>\n \u2014 Last month, Delaware\u2019s governor signed into law separate legislation to significantly expand the state\u2019s medical cannabis program<\/a>\u00a0as regulators take steps to launch the recreational marijuana market.<\/p>\n The new law approved by Gov. John Carney (D) removes limitations for patient eligibility based on a specific set of qualifying health conditions. Instead, doctors will be able to issue marijuana recommendations for any condition they see fit.<\/p>\n The measure will also allow patients over the age of 65 to self-certify for medical cannabis access without the need for a doctor\u2019s recommendation.<\/p>\n All of this comes as regulators are\u00a0rolling out a series of proposed regulations to stand up the forthcoming adult-use cannabis market<\/a>. The current timeline puts the launch of the market at March 2025, according to Delaware Marijuana Commissioner Robert Coupe.<\/p>\n NCAA Votes To Remove Marijuana From Banned Substances List For College Athletes<\/a><\/p>\n<\/blockquote>\n\n The post Delaware Lawmakers Send Marijuana Banking Bill To Governor\u2019s Desk<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
The Delaware Senate has approved a House-passed bill that would enact state-level protections for banks that provide services to licensed marijuana businesses\u2014sending it to the governor\u2019s desk. The legislation, filed by Rep. Ed Osienski (D) and Sen. Trey Paradee (D), cleared the House in March and then moved through theContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":76601,"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\/76600"}],"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=76600"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/76600\/revisions"}],"predecessor-version":[{"id":76602,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/76600\/revisions\/76602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/76601"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=76600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=76600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=76600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nRead More: Delaware Lawmakers Send Marijuana Banking Bill To Governor\u2019s Desk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"