Push For Cannabis Banking Reform, Washington Social Equity, New Hampshire Debates Retail Weed Sales And More

Congresswoman Advocates for Marijuana Banking Reform

In a bid to advance cannabis legislation, Congresswoman Maxine Waters (D- CA) champions the need for marijuana banking reform, highlighting bipartisan collaboration. Waters, a ranking member of the House Financial Services Committee, stresses the urgency of passing the Secure and Fair Enforcement Regulation (SAFER) Banking Act, reported Marijuana Moment. This legislation aims to provide banking services to cannabis businesses, addressing their current lack of access to traditional financial institutions due to federal prohibition.

Despite potential challenges from Senate Minority Leader Mitch McConnell, Waters expresses optimism and determination to overcome obstacles.

“I know that there may be some concerns with McConnell, but I am hopeful that we can overcome that (…), we’ve got to have SAFER Banking, and most of us who have been working on this support that.”

Washington State Proposes Diversity Measures For Cannabis Ownership

The Washington State Liquor and Cannabis Board (WSLCB) introduces amendments to foster diversity in cannabis ownership. With a focus on inclusivity, the proposed changes aim to encourage minority participation and eliminate licensing barriers in cannabis retail. Acknowledging the importance of equitable access, the WSLCB seeks to create a more inclusive landscape.

The WSLCB members received a briefing on proposed changes to the scoring criteria for minority license applicants, aiming to prioritize those most affected by the war on drugs. One proposed change involves considering convictions for all drugs, not just marijuana, in the scoring process. These revisions to the scoring system reflect feedback from social equity applicants in the initial round of applications.

New Hampshire Senate Reviews Marijuana Legalization Bill

A New Hampshire bill legalizing marijuana, passed by the House, now faces scrutiny in a Senate committee. Opponents, including state Sen. Daryl Abbas (R) and Senate president Jeb Bradley (R), propose significant modifications.

Earlier this year, the House-approved HB 1633 permits 15 statewide retail stores, imposing a 10% state charge on adult-use purchases. Medical marijuana remains tax-exempt and regulated under an “agency store” model with strict marketing limitations.

Abbas’s proposed changes aim to elevate penalties for public consumption, turning repeat offenses into misdemeanors with potential jail time, contradicting legalization goals. Additionally, Abbas’s amendment suggests a shift to a franchise system, overseen by the state’s Liquor Commission, governing the aesthetics and operations of the 15 stores. This, among other amendments, might distort the original spirit of HB1633, putting it at risk of failing in the House when revised, proponents of the bill alerted.