Lawmakers discuss cannabis law that would have it all – banking, research, veterans

Will there be comprehensive cannabis legalization legislation in the US this year? According to recent discussions, anything is possible.

Following a recent discussion between Sen. Chuck Schumer (DN.Y.) and GOP House Representative Dave Joyce (R-OH) about possible bipartisan cannabis reform steps that can be taken before the completion of a comprehensive legalization bill, marijuana Moment revealed that much more than just banking and cancellation reforms were under consideration.

During a preliminary briefing held Thursday at an International Cannabis Bar Association conference, Schumer and Joyce discussed the combination of two already existing bipartisan bills — Rep. Ed Perlmutter’s (D-CO) Secure and Fair Enforcement (SAFE) Banking Act and the Harnessing Opportunities by Pursuing Expungement (HOPE) Act. The HOPE Act, sponsored by Joyce and Alexandria Ocasio-Cortez (D-NY), would help states erase criminal records for people convicted of nonviolent cannabis offenses by establishing a State Expungement Opportunity Grant Program.

Other important proposals such as access to medical marijuana for veterans, expanding research, giving the cannabis industry access to Small Business Administration (SBA) programs and broader drug condemnation were also considered, multiple sources told the outlet.

Furthermore, these four concerns — financial services, research, medical marijuana for veterans, and deletions — are only a portion of the topics discussed. An anonymous source said a final compromise has not yet been reached and hypothetical talks are ongoing.

Something for everyone – SBA Loans, EQUAL Act

Also, a proposal to allow marijuana companies access to SBA loans and services was discussed by Senator Jacky Rosen (D-NV) in a letter urging the Appropriations Committee to allow it. A congressional source told Marijuana Moment Rosen had spoken to Schumer about her efforts to push the proposal.

To further complicate matters and make the potential omnibus bill even more compelling for both parties, talk of a non-cannabis proposal was thrown into the mix. Namely, the EQUAL Act to eliminate state inequality in sentencing for crack and powder cocaine, which was seen as exacerbating racial disparities in the criminal justice system. The measure has already been approved as a stand-alone measure in the House of Representatives and has notable bipartisan support in the Senate.

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“These talks are very serious,” said a source involved in criminal justice reform. “I would say this is one of the most serious bicameral bicameral talks we have seen in our time in this room.”

Photo by Olena Ruban/Getty Images

Perlmutter stressed the importance of the SAFE Banking Act coming into force this year. “As I said before, I continue to pursue all possible avenues to get SAFE Banking legally signed this year. That effort includes ongoing discussions with senators who want to push cannabis reforms forward,” Perlmutter told Marijuana Moment last Friday. “There are a number of bipartisan cannabis bills on the table, many of which could pass the Senate today if given the chance. I plan to continue working to get the SAFE Banking Act and/or other needed cannabis reforms across the finish line this year.”

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Could this tactic of pushing other issues into bills the legislature wants to pass turn the tide for cannabis legalization? Maybe.

There is a risk of complicating any upcoming legalization legislation that is already complex, as each state has its own trials and tribulations with its programs as they learn from their own and others’ mistakes. Only time can tell.

This article originally appeared on Benzinga and has been republished with permission.