Today in the world of cannabis: We have good news for cannabis companies looking for SAFE banking, cannabis legalization has died in three states this week, while advancing in others, and after settling a dispute, New York state lawmakers confirm that they are closer to a finalized cannabis legalization bill.
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** First up: According to MJBiz Daily, less than a week after pro-cannabis banking legislation was reintroduced in the U.S. House of Representatives, a parallel bipartisan measure was revived in the Senate – a move that drew applause from cannabis industry advocates.
Sens. Jeff Merkley, a Democrat from Oregon, and Steve Daines, a Montana Republican, and 27 co-sponsors on Tuesday reintroduced the SAFE Banking Act in the Senate, according to a National Cannabis Industry Association or NCIA news release.
The bill would provide safe harbor to any financial institutions that work with state-legal cannabis companies, even while it remains federally illegal.
Industry insiders have long viewed such a move as a gateway to banking access, since most large financial institutions remain wary of connections with the industry, given cannabis’ status as a Schedule 1 controlled substance.
The House passed the same bill in 2020 with an overwhelming bipartisan majority, but the measure stalled in the Senate at the hands of then-Majority Leader Mitch McConnell, who was known to be unfriendly toward cannabis-reform efforts.
But now that Congress is Democratic-controlled, the bill’s chances are considered much improved.
** And next: according to Marijuana Moment, cannabis legalization has died in three states this week, while advancing in others.
Lawmakers in states across the country are taking up cannabis reform measures this year after a November election in which voters passed every state-level drug reform initiative put before them. But in three states—Maryland, Hawaii and Wyoming, bills to end cannabis prohibition this year have died in recent days as key legislative deadlines passed.
Advocates said the failure of lawmakers in Hawaii, Maryland and Wyoming to move forward on the proposals means the harms of criminalization will continue to fall disproportionately on Black and brown communities in those states for at least another year, even as a majority of voters support legalization.
“We will continue to see racially disproportionate enforcement throughout our state,” Luke Jones, director of Maryland NORML, told Marijuana Moment, “resulting in tens-of-thousands of avoidable police encounters and more arrest records we will pay to expunge next year.”
At the national level, meanwhile, lawmakers recently reintroduced a proposal to allow state-legal cannabis businesses access to banking services, with legislation to end federal prohibition expected to be introduced soon.
Marijuana Legalization Bills Died In Three States This Week As Others Move Forward
** Last up: In a report by NCPR, after Democrats settled a deadlock on worries about identifying and prosecuting when somebody is driving after cannabis consumption, a resolution to legalize recreational cannabis in New York state is scheduled to be presented in the days ahead.
Senate Majority Leader Andrea Stewart-Cousins, D-Westchester, confirmed earlier this week that the dispute had been resolved and that the proposal’s finished version was being worked out by legislative officials. Sen. Stewart-Cousins added that the bill is expected to be approved by the end of the month.
While Stewart-Cousins didn’t actually say what the bill would include, they did say that law enforcement departments would get more money to train police on how to identify when an individual is under the influence of cannabis.
It’s unclear if Gov. Andrew Cuomo’s office is on board with the upcoming proposal to legalize marijuana, but he’s said in recent weeks that his staff is involved in negotiations. Gov. Cuomo recently began further discussions on cannabis legalization in the state as an attempt to draw attention away from ongoing sexual harassment allegations.
https://www.northcountrypublicradio.org/news/story/43443/20210324/marijuana-legalization-bill-really-close-after-lawmakers-resolve-driving-roadblock
