Marijuana Minute, July 21 2014: House Bans Harshing on Medical Marijuana, Senate Yet to Decide
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In the past weeks, lawmakers have passed two landmark measures that could greatly limit the ability of various Federal institutions to interfere with the legal marijuana businesses.
In May, congress passed HR 5106 which bans the Department of Justice and DEA from using funds to interfere in state approved medical marijuana business. And two amendments preventing the DEA from undermining State marijuana laws.
And also last week, the house passed an amendment to a spending bill which will similarly restrict the Treasury Department, IRS and Securities and Exchange commissions from penalizing financial institutions who do business with medical marijuana organizations. Many marijuana companies have been forced into an all cash business model, putting them at great risk of violent crime such as robbery. The measure is intended to both ease the risk of the business owners but also make it easier to track, tax and collect revenues from these often prospering new enterprises.
The measures will now be sent to the Senate and the strong bipartisan support in the House indicates a promising chance of approval.