A New York senator wants to give banks in the state a little peace of mind about working with legal marijuana businesses, filing a bill on Tuesday that would allow regulators to disclose certain information about cannabis licensees to financial institutions. The bill from Sen. Jeremy Cooney (D) is one of two pieces of legislation that he’s failing to address the marijuana banking issue, though the other has yet to be formally introduced. It’s another example of how state lawmakers are taking matters into their own hands as Congress continues to stall on enacting a federal fix to more broadly protect banks and credit unions that service cannabis businesses from being penalized by financial regulators. Cooney’s new bill, SB S8758, would take a modest step at the state level by authorizing the Office of Cannabis Management (OCM) to “share any and all information obtained from applicants and licensees…to requesting financial institutions for the purpose of consideration and compliance,” the text states.

Kyle Jaeger, Marijuana Moment, 04/13/2022 12:23:00

Open article: https://www.marijuanamoment.net/new-york-senator-files-bill-to-promote-marijuana-banking-by-giving-financial-institutions-access-to-business-information/

New Jersey’s regulators green-lighted the launch of the state’s recreational cannabis market. The Cannabis Regulatory Commission (CRC) approved 34 conditional licenses and agreed that seven of the state’s ten medical cannabis companies begin sales, possibly within weeks, following a series of setbacks and 17 months after New Jerseyans chose to legalize the use of recreational cannabis in a ballot measure. The process was quite frustrating not only for cannabis entrepreneurs, such as Boris Jordan — the founder and chairman of Curaleaf Holdings, one of the companies which have been given the green light to sell recreational marijuana — but also for lawmakers like New Jersey Senate president Nick Scutari (D). He earlier called delays in rolling out the state’s legal marijuana market unacceptable, announcing his intentions to form a special legislative committee to explore the issue through oversight hearings. While advocates are praising the move and with cannabis prohibition finally reaching its end, Scutari still plans to hold cannabis hearings, Heady NJ writes.

Benzinga Staff Writer, The Fresh Toast, 04/14/2022 08:00:00

Open article: https://thefreshtoast.com/news/this-senator-is-determined-to-get-new-jersey-marijuana-shops-up-and-running/#utm_source=rss&utm_medium=rss&utm_campaign=this-senator-is-determined-to-get-new-jersey-marijuana-shops-up-and-running

Representatives of a hemp advocacy group met with members of Congress including Senate Minority Leader Mitch McConnell last week to rally support for legislation drafted to promote hemp agriculture. The day of meetings with senators and members of the House of Representatives was coordinated by the U.S. Hemp Roundtable to advocate for Food and Drug Administration regulation of cannabidiol (CBD) and to support pending legislation including provisions of the Hemp Advancement Act and the SAFE Banking Act. The U.S. Hemp Roundtable is a national group advocating for the hemp industry consisting of dozens of companies and organizations committed to safe hemp and CBD products. The group’s board of directors and staff traveled to the nation’s capital on April 6 to meet personally with several members of Congress to advocate for several pieces of legislation related to hemp agriculture, which was legalized by the 2018 Farm Bill.

420 Intel – Marijuana Industry News, 04/12/2022 20:00:00

Open article: https://420intel.com/articles/2022/04/13/hemp-advocacy-group-meets-mcconnell-push-legislative-agenda

Wisconsin State Senate Committee on Insurance, Licensing and Forestry will hold a public hearing on a medical marijuana bill (Senate Bill 1034) on April 20th. Sponsors say the fact that the hearing is scheduled on the popular 4/20 cannabis holiday is a coincidence. (Benzinga) Senator Melissa Agard (D-Madison) responded to the hearing notice, saying that the Wisconsin residents are ready for cannabis reform, reported Wispolitics. “It is supported by the majority of the residents of our state, including a majority of Republicans,” Agard said. “While I’m encouraged people will have the ability to come to testify at a public hearing, it is disappointing that we had 15 months of the session in which we could have rolled up our sleeves and worked in a bipartisan manner on this important and complex policy. Sadly, Republicans are all talk and no action when it comes to legalization efforts in Wisconsin.” The main problem? The bill won’t become law this year because the Legislature has adjourned and it won’t be back until 2023.

420 Intel – Marijuana Industry News, 04/12/2022 20:00:00

Open article: https://420intel.com/articles/2022/04/13/wisconsin-senator-agard-says-republicans-are-all-talk-and-no-action-medical