US Congress Senate Bill 1200 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 27-5-3)
Status: Introduced on April 11 2019 - 25% progression, died in committee
Action: 2019-04-11 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate marijuana-related business. Specifically, the bill prohibits a federal banking regulator from (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased or sold to such a business; or (5) penalizing a depository institution for engaging in a financial service for such a business. As specified by the bill, a depository institution or a Federal Reserve bank shall not, under federal law, be liable or subject to forfeiture for providing a loan or other financial services to a legitimate marijuana-related business. The Government Accountability Office must report on (1) access to financial services for minority-owned and women-owned marijuana-related businesses; and (2) the effectiveness of suspicious-transaction reports at finding engagement with organized criminal activity in jurisdictions that allow the cultivation, sale, or distribution of marijuana.

SAFE Banking Act of 2019 Secure And Fair Enforcement Banking Act of 2019

Sen. Jeff Merkley [D-OR]	Sen. Cory Gardner [R-CO]	Sen. Jacky Rosen [D-NV]	Sen. Lisa Murkowski [R-AK]
Sen. Michael Bennet [D-CO]	Sen. Dan Sullivan [R-AK]	Sen. Kamala Harris [D-CA]	Sen. Rand Paul [R-KY]
Sen. Catherine Cortez Masto [D-NV]	Sen. Tammy Duckworth [D-IL]	Sen. Gary Peters [D-MI]	Sen. Robert Menendez [D-NJ]
Sen. Angus King [I-ME]	Sen. Bernard Sanders [I-VT]	Sen. Patty Murray [D-WA]	Sen. Edward Markey [D-MA]
Sen. Patrick Leahy [D-VT]	Sen. Brian Schatz [D-HI]	Sen. Ron Wyden [D-OR]	Sen. Elizabeth Warren [D-MA]
Sen. Mazie Hirono [D-HI]	Sen. Kevin Cramer [R-ND]	Sen. Amy Klobuchar [D-MN]	Sen. Kirsten Gillibrand [D-NY]
Sen. Tammy Baldwin [D-WI]	Sen. Richard Blumenthal [D-CT]	Sen. Tim Kaine [D-VA]	Sen. Tom Udall [D-NM]
Sen. Christopher Murphy [D-CT]	Sen. Kyrsten Sinema [I-AZ]	Sen. Mark Warner [D-VA]	Sen. Jon Tester [D-MT]
Sen. Tina Smith [D-MN]	Sen. Richard Durbin [D-IL]	Sen. Martin Heinrich [D-NM]

Date	Chamber	Action
2019-04-11	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB1595 (Related) 2019-09-26 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB6800 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.
HR967 (Similar To) 2020-05-15 - Motion to reconsider laid on the table Agreed to without objection.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1200/all-info
Text	https://www.congress.gov/116/bills/s1200/BILLS-116s1200is.pdf