Senate Minority Leader Chuck Schumer on Thursday said he intends to reintroduce his bill to remove marijuana from the U.S. controlled substances list, a move that would permit states to regulate cannabis without fear of federal interference.
In addition to removing marijuana from the Controlled Substances Act, the measure would earmark a percentage of industry income tax revenues for small loans for women- and minority-owned cannabis businesses.
Schumer, also a New York Democrat, first introduced the bill last June.
That version collected nine co-sponsors in the Senate.
Comprehensive marijuana reform is expected to face an uphill battle, especially in the Republican-controlled Senate.