Federal Action

Good news from Washington! Newly drafted House legislation contains favorable language for our industry.  

Here’s what’s tucked into the Fiscal Year 2022 Financial Services and General Government Funding Bill (AKA the federal budget):

“SEC. 629. None of the funds made available in this Act may be used to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, a producer, or a person that participates in any business or organized activity that involves handling hemp, hemp-derived cannabidiol products, other hemp-derived cannabinoid products, marijuana, marijuana products, or marijuana proceeds, and engages in such activity pursuant to a law established by a State, political subdivision of a State, or Indian Tribe. In this section, the term ‘‘State’’ means each of the several States, the District of Columbia, and any territory or possession of the United States.”

In addition, the legislation includes friendly legislation for new Americans and veterans who work in the hemp and cannabis industries. The US Hemp Roundtable has made these measures a priority in our recent lobbying efforts. Needless to say, we are very happy with the results.

Help us get this favorable legislation passed.