The Montana House of Representatives today gave final approval to Senate Joint Resolution 5, a measure urging the U.S. Congress to pass the SAFER Banking Act. The resolution cleared its third and final reading in a 65 to 35 vote, five more votes in favor than during its second reading.
Having already passed the Senate last month in a 35 to 14 vote, the resolution is now officially enacted. As a resolution rather than a bill, it does not require the governor’s signature and will now be transmitted to Congress.
SJR 5 calls on Congress to advance the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would allow financial institutions to provide standard banking services to state-licensed marijuana businesses. These services would include checking accounts, loans, and debit processing, while also allowing such businesses to access federal tax deductions currently unavailable due to marijuana’s status under federal law.
The resolution directs the Montana Secretary of State to send copies of the resolution to the Speaker of the U.S. House of Representatives, the Majority and Minority Leaders of both chambers, each member of Montana’s congressional delegation, and the tribal governments of Montana’s federally recognized tribes.
Montana’s two U.S. Senators, Democrat Jon Tester and Republican Steve Daines, are both co-sponsors of the SAFER Banking Act.
More articles from The Marijuana Herald can be found below.
