Marijuana Business Factbook 2019

22 Marijuana Business Factbook 2019 Chapter 1 | National Trends © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. The SAFE Banking Act, or H.R. 1595, would provide federal protection for banks and other financial institutions that serve state-legal marijuana businesses ― both plant-touching and ancillary. A bipartisan group of 33 state attorneys general (AG) support this particular bill ― up 74% from the 19 state AGs who were willing to support similar legislation in 2018 ― in addition to the 180 Democrats and 26 Republicans who have co-sponsored the bill. The bill passed handily in the House and was a key component of a historic Senate hearing on marijuana banking reform in late July, but as of press time, whether the measure will even be allowed a vote on the Republican- controlled Senate floor is in question. Skopos Labs has pegged the odds of the bill being enacted into law at 3%, down from 37% over the summer. The STATES Act ― introduced in the Senate by Massachusetts senator and presidential hopeful Elizabeth Warren ― would create an exemption to the Controlled Substances Act to allow states to develop their own policies around cannabis without fear of federal reprisal. Although the bill enjoys bipartisan support from lawmakers and is co-sponsored by 43 Democrats and 19 Republicans, it is not expected to pass. For several months Skopos Labs has kept the odds of passing the STATES Act at 3%. Though federal marijuana policy reform appears to be a long shot ― at least until the 2020 elections are over ― the fact that meaningful conversations and debate about the issue is even happening on Capitol Hill signals progress and is a clear sign that attitudes toward cannabis at the highest levels of government are shifting.