W-4Twenty attended the Q3 Cannabis Caucus that was held by the NCIA on July 18, 2017.
Advocates, educators, and local community leaders in the Cannabis industry were present for an update on legislation currently happening in D.C.
Here are some of the pieces of Legislation currently in place or being discussed among Senators and Representatives regarding Cannabis:
- H.R. 1810 & S. 777 Small Business Tax Equity Act of 2017 — Lead Sponsors: Rep. Carlos Curbelo (R-FL) & Sen. Ron Wyden (D-OR)
Amends the Internal Revenue Code to exempt a trade or business that conducts marijuana sales in compliance with state law from the prohibition against allowing business-related tax credits or deductions for expenditures in connection with trafficking in controlled substances.
- H.R. 2215 & S. 1152 Secure and Fair Enforcement (SAFE) Banking Act — Lead Sponsors: Rep. Ed Perimutter (D-CO) & Sen. Jeff Merkley (D-OR)
Provides a “safe harbor” and additional protections for depository institutions who provide a “financial product or service” to a covered business.
- H.R. 1820 Veterans Equal Access Act — Lead Sponsor: Rep. Earl Blumenauer (D-OR)
Authorizes the Department of Veterans Affairs health care providers to provide recommendations and opinions to veterans regarding participation in state marijuana programs.
- H.R. 2920 & S. 1374 Compassionate Access, Research Expansion, and Respect States (CARERS) Act of 2017 — Lead Sponsors: Rep. Steve Cohen (D-TN) & Sen. Cory Booker (D-NJ)
A bill to extend the principle of federalism to state drug policy, provide access to medical marijuana, and enable research into the medicinal properties of marijuana.
- H.R. 975 Respect State Marijuana Laws act of 2017 — Lead Sponsor: Rep. Dana Rohrabacher (R-CA)
Mandates that those individuals/businesses that are compliant with state marijuana laws are compliant with federal marijuana laws.
- H.R. 1227 Ending Federal Marijuana Prohibition Act of 2017 — Lead Sponsor: Rep. Tom Garrett (R-VA)
Would repeal all federal penalties for possessing and growing marijuana, allowing states to establish their own marijuana laws by removing cannabis from the Controlled Substances Act.
- H.R. 1841 Regulate Marijuana Like Alcohol Act — Lead Sponsor: Rep. Jared Polis
To provide for the regulation of marijuana products, and for other purposes.
- H.R. 1824 & S. 780 Responsibly Addressing the Marijuana Policy Gap Act of 2017 (RAMP Act) — Lead Sponsors: Rep. Earl Blumenauer (D-OR) & Sen. Ron Wyden (D-OR)
Amends the Controlled Substances Act to reduce the gap between federal and state marijuana policy, and for other purposes.
- H.R. 1823 & S. 776 Marijuana Revenue and Regulation Act — Lead Sponsors: Rep. Earl Blumenauer (D-OR) & Sen. Ron Wyden (D-OR)
Amends the Internal Revenue Code of 1986 to provide for the taxation and regulation of marijuana products, and for other purposes.