Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Medical Cannabis topic
No spam. Unsubscribe anytime.
Senate passes resolution urging federal action on medical cannabis banking issues
Summary
SCR7 requests congressional action to resolve banking restrictions that prevent FDIC‑insured banks from handling proceeds of medical cannabis businesses; the resolution passed unanimously in the Senate.
On Feb. 27 the Senate considered SCR7, a concurrent resolution asking Congress to act to remove federal barriers that prevent FDIC‑insured banks from accepting proceeds from state-authorized medical-cannabis businesses. The sponsor said the resolution was requested by the president, congressional delegation and other state-government groups and noted roughly two dozen states face similar banking restrictions.
"We still however have the biggest issue that we can't address how to receive or process through the existing banking systems due to federal law and regulation," the sponsor said, referencing prior state ballot actions and House Bill 3001. The sponsor called for congressional action to address the conflict between state-level medical cannabis laws and federal banking rules.
The Senate directed a unanimous recorded vote; SCR7 was recorded as receiving 26 yes votes and 0 nays (3 absent) and was sent to the House for consideration.
Next steps: As a concurrent resolution, SCR7 expresses the Legislature’s view and asks federal action; it does not itself change state statute or regulatory authority.
