Last week, attorneys general from 38 states and territories signed a letter requesting action on cannabis banking legislation. They are concerned about conflicting messages between state and federal laws regarding cannabis, which have created major grey areas for businesses, organizations and agencies operating in this space, making taxation and regulation even more difficult for states.
"An effective safe harbor would bring billions of dollars into the banking sector, enabling law enforcement; federal, state and local tax agencies; and cannabis regulators in 33 states and several territories to more effectively monitor cannabis businesses and their transactions," the letter-authors said.
H.R. 1595 (116), sponsored by Ed Perlmutter (CO-7), also known as the SAFE Banking Act of 2019, was referred to the Subcommittee on Crime, Terrorism, and Homeland Security last week. With POLITICO Pro’s Legislative Compass, you are able to not only track any changes or updates that are made to this bill and its progress through the legislative process, but our reporters dive deep into the issues to help you make sense of policy changes.
Get an in-depth analysis of the specific bill you’re interested in from Pro’s team of legislative experts. Every analysis gives you the most relevant content, including bill background and historical context, what’s expected to happen, key players and expected votes, and more.
Here is an excerpt from the Pro Bill Analysis for H.R. 1595 by Mary Lee and Zachary Warmbrodt.
Within Legislative Compass, advanced legislative analytics help you prioritize and streamline your tracking efforts. For H.R. 1595, the Chamber Passage Probability, which indicates the probability that a bill will advance out of the chamber in which it was introduced, is 82 percent. The Enactment Probability, which indicates the probability that a bill will be enacted into law, is 33 percent.
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