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“Many of these establishments are small-to-medium size operators, with their employees keeping their doors open without access to the support systems in place for other businesses, thus depriving them of potentially lifesaving protections.” The majority of these businesses are small-to-medium in size.
Representatives Earl Blumenauer (D-OR) and Ed Perlmutter (D-CO) have introduced legislation to allow state-legal marijuana businesses to apply for COVID-19 benefits through the Small Business Administration. Currently, the SBA is prohibited from engaging with cannabis businesses due to federal marijuana criminalization.
Sixty-eight percent of Americans say that Congress should pass legislation so that marijuana businesses can "access banking services and products in states" where it is legal. The post Poll: Nearly 70 Percent of Americans Want Congress to Allow Licensed Cannabis BusinessesAccess to Banking Services appeared first on NORML.
The Coalition letter focuses on the need for small businessaccess to the SBA relief funds as an avenue to protect the progress that has been made by minority entrepreneurs in the emerging legal cannabis marketplaces. RE: Protect Minority-Owned Marijuana Businesses and their Workers. You can read the full letter below.
There is no doubt that the COVID-19 pandemic is adversely impacting businesses around the world, and smaller businesses especially. That is why these businesses continue to face undue discrimination under federal law, including the lack of access to banking services and a prohibition of standard business tax deductions.
There are loopholes written into the language that will allow individual municipalities to reject the law and keep medical cannabis illegal in their jurisdictions, and the bill limits cannabis businesses to operate in industrial or agricultural zones, which limits patient access. ASA strongly opposes both of these provisions.
A complex and comprehensive plan laid out in over 200 pages of legislative text, the CRTA would implement one of the most tightly regulated, highly taxed and heavily controlled legal cannabis markets in the world. It also creates on-site consumption licenses for retail facilities to apply for. development and hiring programs.
Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. The majority of these businesses are small-to-medium in size.
Imagine operating a business without a bank account. Imagine being forbidden from letting your customers pay for purchases with a credit card, or being able to ask a bank for a small business loan. Currently, state-licensed marijuana businesses face a web of conflicting regulations.
I started volunteering some time for Americans for Safe Access (ASA) , the country’s largest non-profit patient advocacy organization promoting safe and legalaccess to medical cannabis. After weeks of being turned down again and again from major businesses, I felt alone and discouraged.
Two of our greatest champions in Congress, Representative Earl Blumenauer and Senator Jacky Rosen, are circulating bipartisan sign-on letters to Congressional Leadership demanding that state-licensed cannabis businesses are able to access the Small Business Administration. Tweet the Action on Twitter. Justin Strekal.
House Small Business Committee Chairwoman Nydia Velázquez along with Representatives Jared Golden and Dwight Evans introduced a package of legislation, ( H.R. Moreover, an estimated 73 million Americans now reside in the ten states where anyone over the age of 21 may possess cannabis legally. 3540 , H.R. 3543 , and H.R.
Allows the existing state-legal marijuana industry to access financial services and enjoy the standard tax treatment available to all legalbusinesses. This also will pave the way for more scientific and medical research.
The first will be held on Wednesday, June 19th, in the Small Business Committee, entitled Unlocked Potential? Small Businesses in the Cannabis Industry. Ultimately, this prohibition on access to resources hampers the potential to create a robust and competitive marketplace for consumers. Presently, V.A. Presently, V.A.
The most essential component in creating a stable business environment to meet consumer demand is certainty, and that is what states and businesses would have with Congressman Correa’s legislation to protect state-lawful programs from potential rouge US Attorneys under a Department of Justice likely to be led by known drug warrior William Barr.
When it comes to any hot-button issue like cannabis legalization, there are always two sides, often without much middle ground. For those looking through a pro-legalization lens, efforts to continue federal prohibition and bar states from legalizing should be a thing of the past. Current Anti-Legalization Efforts in the U.S.
Lawmakers in several states have recently moved forward legislative proposals to either legalize or decriminalize marijuana-related activities. LEGALIZATION. Chris Sununu, who has pledged to veto any legalization bill, “regardless of what the language looks like.” It now awaits action from the House.
Today, the House Committee on Small Business held a hearing entitled Unlocked Potential? Small Businesses in the Cannabis Industry to discuss the economic and employment opportunities in the emerging legal cannabis industry and the challenges that federal prohibition and criminalization pose in regards to the Small Business Administration.
Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.
Potential implications of rescheduling cannabis It’s important to keep in mind that rescheduling does not legalize cannabis outright for recreational use. Rescheduling would stand to have the largest impact on cannabis research and business taxes. What does rescheduling cannabis mean for medical cannabis patients?
In April 2023, Delaware became the 22nd state to legalize recreational cannabis with the passing of HB 1 and HB 2. ” Licenses for recreational dispensaries will begin going out in September of this year, so businesses should be opening in 2025.
The bill would legalize the adult possession, use, and regulated sale of marijuana. Ensuring diversity in New York’s marijuana industry by removing barriers to access like capital requirements and building inclusivity by allowing licensing to people with prior drug convictions. Our communities can’t wait.
Since the passage of Proposition 1 , officially known as the Michigan Regulation and Taxation of Marihuana Act , which legalized the sale, possession, consumption and cultivation of marijuana for adults 21 and up last November, members of Michigan NORML have encountered a new challenge: municipal opt-out.
States Taking Action to Ensure Uninterrupted Retail Access to Medical Cannabis During COVID-19 Outbreak. Urge Congress to Provide Small Business Relief to State-Licensed Cannabis Companies. Contact your federal lawmakers in support of this needed change to protect small businesses. View the up-to-date list.
This week, the Minority Cannabis Business Association unveiled their Municipal Ordinance model on how localities can administer new business licenses in a fashion that promote minority entrepreneurs and ensure that the emerging industry will not be dominated by a flood on new investors who have not been harmed by the consequences of prohibition.
Chief Petitioners Madeline Martinez, Leia Flynn, and Angela Bacca filed a ballot measure to be known as “The Legalization Justice Act of 2020” at the Oregon State Capitol on Monday, March 18. The OJL seeks to right these wrongs as well as provide a model for other states to implement a more just version of cannabis legalization.
“NORML’s mission is to move public opinion sufficiently to legalize the responsible use of marijuana by adults, and to serve as an advocate for consumers to assure they have access to high quality marijuana that is safe, convenient and affordable.” ” Download the Resource Guide.
Currently, thousands of state-licensed and regulated businesses lack access to the banking industry and are unable to accept credit cards, deposit revenues, or write checks to meet payroll or pay taxes because federal law discourages financial institutions from engaging in such partnerships.
The American South has been one of the toughest (weed) cookies to crack when it comes to marijuana reform, despite legalization’s wildfire spread over the past half-decade. To be fair, Democrats didn’t mention weed legalization on their party’s official platform until 2016.). We need to do more.
Legal Advisor to Roc NORML, and Mary Kruger, Start SMART NY Coalition Member and Executive Director of Roc NORML. Sixty-five percent of New York residents support the legalization of cannabis. Cannabis legalization was not included in the 2019 – 2020 New York State Budget. By: Jason Klimek, Esq.,
Thousands of state-licensed and regulated businesses lack access to the banking industry and are unable to accept credit cards, deposit revenues, or write checks to meet payroll or pay taxes because federal law discourages financial institutions from engaging in such partnerships. With 97.7% of the U.S.
Additionally, in states that were early legalization adopters like Colorado, Michigan, and Oregon, production capacity has caught up to the needs of the mature market and supply continues to outpace demand. It’s also become clear that lowering retail prices does not lead to an increase in demand.
This Act amends the Controlled Substances Act to reduce the number of instances in which federal law enforcement agencies could carry out legal actions against state-licensed cannabis businesses or other related enterprises. The percentage is the highest level of support for legalization ever reported in a nationwide, scientific poll.
Marijuana legalization is here to stay and it is time that federal policy reflect that.” The members were joined by NORML Executive Director Erik Altieri as well as representatives from the Minority Cannabis Business Association, The Veterans Cannabis Coalition, and individuals impacted by criminalization.
The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. NORML Deputy Director Paul Armentano submitted written congressional testimony, which you can read here.
The legalization effort in New Mexico was killed as the Senate Judiciary Committee voted 6-4 to table the bill this week. One of two initiative petitions to put marijuana legalization on the ballot in Oklahoma was cleared for signature gathering. Send a message to your lawmakers in support of medical marijuana access.
Legal Status & Industry Overview 1. Is cannabis legal for business purposes in Australia? Cannabis businesses must comply with several laws, including: Narcotic Drugs Act 1967 regulates cannabis cultivation and manufacture for medicinal or scientific purposes. Cannabis Business Licensing & Compliance 6.
introduced a never-before-seen bill—the Capital Lending and Investment for Marijuana Businesses Act (“the CLIMB Act”). What Business Services Would the CLIMB Act Protect? 8200 intends for a broad interpretation so that cannabis and cannabis-related companies are put on an even playing field with traditional business operations.
Brazil’s Superior Court has effectively legalized medical cannabis for home-grown use. What Happened The five-judge panel unanimously agreed that Brazil’s patients should have access to home-grown medical cannabis. The decision is likely to set a precedent for similar cases. The three patients on trial […].
A bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595 , to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. This situation is untenable.
consumers and businesses, inflation dominates current news headlines because of how much it affects every one of our wallets. Since COVID-19 rocked the economy, cannabis businesses and supply chains claim to have been playing catch-up to get back to business as usual. As perhaps one of the most talked-about topics for U.S.
Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. Pennsylvania Prioritizes Banking for Cannabis Businesses.
Last Wednesday, he essentially demanded that in exchange for allowing the cannabis industry to access to basic banking services, that the federal government should impose a 2% THC cap on marijuana products and prohibit the retail sale of marijuana-infused edibles or e-liquid vapor extracts. “Wait, what?!” ” you ask?
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