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A Delaware Senate committee this week advanced a bill that would provide state-level protections for banks and other financial institutions that serve licensed cannabis businesses.
House Bill 355, which already passed in the House, would shield banks, credit unions, armored car services, and accounting firms from state prosecution for working with Delaware cannabis companies. Proponents gave argued that the lack of access to financial services poses a public safety risk, as businesses are forced to deal in large amounts of cash.
One of its authors said during Wednesday’s hearing that the issue has “plagued the cannabis industry” since California first legalized medical marijuana in 1996.
“This is really a public safety issue,” Sen. Trey Paradee said, Marijuana Moment reported. “We do not want any of the current medical cannabis providers or the coming recreational cannabis providers to struggle with that issue.”
The move comes as Delaware continues to develop its cannabis regulatory framework, with ongoing efforts to expand its medical marijuana program and establish rules for its adult-use market, which could stretch its original early-2025 target date.
Last month, state officials released a third round of informal draft regulations. That latest package, published by the Office of the Marijuana Commissioner, covered different aspects of the industry, including testing, sampling, waste disposal, variances, and fee schedules, the outlet reported.
That batch followed two earlier sets of draft rules that addressed topics such as licensing, application requirements, tracking, transportation, health standards, packaging, and advertising. The OMC said plans to continue issuing draft regulations as the state works to implement legalization.
Delaware Marijuana Commissioner Robert Coupe during a February finance committee hearing suggested in testimony that retail marijuana sales in the state may not begin until March 2025, a delay from the initial timeline. Officials are still exploring the possibility of allowing existing medical cannabis dispensaries to start serving adult consumers earlier, however.
The proposed timeline for the adult-use cannabis program includes finalizing rules by July 11, accepting license applications in September, and approving various license types on a staggered schedule beginning in October. Cultivation licenses could be granted as early as November, followed by manufacturer licenses in December, and retailer and testing licenses in March 2025.
State Rep. Ed Osienski, the primary sponsor of the legalization bill, told WHYY News last year that predicting the launch date “would be purely speculative,” but estimated at the time that it could be three months after the first licensed growers plant their crops, provided that at least one testing lab is operational to ensure product safety.
At the same time, the House in January approved a bill to expand the state’s medical marijuana program. The legislation aims to remove limitations on patient eligibility based on specific qualifying health conditions and allow patients over 65 to self-certify for medical cannabis access without a doctor’s recommendation.
