Here's a quick rundown of state, local and federal actions that we're following this week. Cannabis Extinction Events Is California's cannabis industry in danger of not one, but two "extinction events" in 2019? - Two weeks ago, the Senate Committee on Business, Professions and Economic Development heard a bill that would extend temporary cannabis licenses … Continue reading Week in Review: Cannabis Industry Extinction Events, Lead Contamination, Equity Programs and USDA Hemp Regulation Feedback Session
Today, the Assembly and Senate Appropriations Committees met and decided the fate of hundreds of bills including several that directly impact the cannabis industry. Here's a run down of the most watched cannabis-related bills in the California State Legislature that were heard in one of today's hearings: Key Terms Held in Committee - this means … Continue reading California Cannabis Banking Bill Shelved for the Year and Other Legislative Highlights from the Appropriations Committee Hearings
Recently, SB 930 (Hertzberg), was amended to created a state-chartered banking system in California that would allow banks to offer basic services to cannabis businesses. Under the bill, banks that are not a part of the federal banking network would be allowed to apply for a license through the Department of Business Oversight. This license … Continue reading Would a California State-Chartered Banking System Solve the Industry’s Cash Crisis?