Today, the Montana Legislature officially transmitted Senate Joint Resolution 5, an official endorsement of the SAFER Banking Act, to top leaders in Congress, following its final approval last week.
The resolution, which expresses support for federal marijuana banking reform, was sent to the Speaker of the U.S. House of Representatives, the Majority and Minority Leaders of both the House and Senate, each member of Montana’s congressional delegation, and the state’s tribal governments.
The resolution passed the Montana Senate last month in a 35 to 14 vote and was approved by the House last week in a 65 to 35 vote. Because it is a resolution rather than a bill, it did not require the governor’s signature. The measure was officially sent for enrolling on April 25, and today it was returned from enrolling and sent to U.S. congressional leaders, including each member of Montana’s congressional delegation and the tribal governments of Montana’s federally recognized tribes.
Specifically, SJR 5 calls on Congress to pass the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would allow financial institutions to serve state-licensed marijuana businesses without risk of federal penalties. The measure also urges action to allow these businesses access to loans, checking accounts, credit processing, and standard tax deductions currently denied due to marijuana’s Schedule I classification.
Montana’s two U.S. Senators, Democrat Jon Tester and Republican Steve Daines, are both co-sponsors of the SAFER Banking Act, which has gained broad bipartisan support in Congress.
