The CLIMB Act: Is Federal Cannabis Business Reform Coming?
Veriheal
SEPTEMBER 1, 2022
In May 2022, a bipartisan pair, Rep. Troy Carter (D-La.) and Rep. Guy Reschenthaler (R-Pa.) introduced a never-before-seen bill—the Capital Lending and Investment for Marijuana Businesses Act (“the CLIMB Act”). The proposed legislation, H.R. 8200 , would result in a decrease in the cost of doing business as a cannabis-related business (CRB); the ability for such companies to treat banking, financing, and transactions as a traditional business might; and relief for third-party business services p
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