Marijuana Banking Act in U.S. House of Representatives Gains 115th Bipartisan Sponsor

Congressmember Jay Obernolte (R-CA) has become the 115th sponsor of the SAFE Banking Act.

The SAFE Banking Act was filed last April with 10 sponsors. In the year since, the measure has garnered 105 additional cosponsors, in addition to having an updated version of the measure filed in the Senate in September (which itself has 36 sponsors and has received approval through the Senate Banking Committee).

If passed into law, the SAFE Banking Act would alter federal law so that any financial institution (banks, credit unions, etc.) is explicitly allowed to provide banking services to marijuana businesses, so long as those businesses are following state law. The measure would also alter IRS law that prevents marijuana businesses from taking standard tax deductions since they are selling a federally illegal product.
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North Carolina’s First-Ever Marijuana Store Opening Tomorrow

Tomorrow, on 4/20, the Eastern Band of Cherokee Indians (ECBI) will open their marijuana superstore on tribal land, the first in North Carolina history.

Although the marijuana store will at first be available just to medical marijuana patients, the Great Smoky Cannabis Company says it will accept any valid medical marijuana card, even those from outside the state. The tribe also has an easy process setup so that any North Carolina resident (not just tribal members) with one of 18 medical conditions (listed at the bottom of this article) can quickly become a registered patient with the tribe, allowing them to access the store.

The Great Smoky Cannabis Company, house at the previous home of a bingo hall that cost over $50 million to refurbish, is located near Harrah’s Cherokee Casino Resort roughly three hours from Charlotte and 4.5 hours from Raleigh.
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Oregon: Average Price Per Gram of Legal Marijuana Has Remained Below $4 for a Full Year, 62% Lower Than In 2016

The average price of legal marijuana has remained below $4 per gram for 12 straight months.

When legal recreational marijuana sales began in Oregon in October, 2016, the average price per gram was $10.50, while the average price per gram of marijuana concentrates was $40.17. By March, 2023, those prices dropped to $3.92 per gram for dried marijuana flower, and $16 per gram for concentrates.

Fast-forward 12 months, to March of this year, and prices remain almost the same. For concentrates, they actually are exactly the same; an average of $16 per gram (60% lower than in 2016). For dried flower, the price is almost identical at $3.96 (a drop of 62% from 2016).
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Minnesota House Approves Bill to Speed Up Start of Recreational Marijuana Sales

The Minnesota House gave approval today to legislation that would allow legal recreational marijuana sales to begin sooner than initially expected.

safe banking act

Legislation to legalize recreational marijuana was signed into law by Governor Tim Walz in May, with marijuana stores expected to open in 2025. Now, the state’s House of Representatives has voted 69 to 62 to pass legislation that would the Office of Cannabis Management to quickly begin issuing licenses for recreational marijuana sales this summer.

“A number of provisions in this bill are designed to expedite the process of setting up a good legitimate marketplace for cannabis to displace that illicit marketplace that’s out there,” says State Representative Zack Stephenson (D), the bill’s prime sponsor.
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US Senate Majority Leader “Committed” to Including Marijuana Expungement Provision in Marijuana Banking Act

Senate Majority Leader Chuck Schumer said he’s “committed” to including marijuana expungements in a marijuana banking act that’s already cleared a Senate committee with bipartisan support.

The SAFER Banking Act in the Senate would allow banks and other financial institutions such as credit unions to legally provide services to marijuana businesses that are following state law. The measure is sponsored by 36 senators, and in September it was given approval by the Senate Banking Committee with bipartisan support. Senate Leader Schumer said recently that the full Senate will vote on the measure in “the weeks and months ahead.”

Now, Senator Schumer says he’s committed to including the HOPE Act to allow marijuana expungements as part of the SAFER Banking Act prior to it receiving a floor vote.
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Cannabidiol Inhibits Epithelial Ovarian Cancer, Finds New Study

The marijuana compound cannabidiol (CBD) “inhibits epithelial ovarian cancer”, according to the results of a new study.

The study is being published in the upcoming issue of the Journal of Natural Products, with the abstract published online ahead of print by the US National Library of Medicine. It was conducted by researchers from Harbin Medical University, the National Key Laboratory of Frigid Zone Cardiovascular Diseases and the Heilongjiang Academy of Medical Sciences, all in China, as well as the University of Calgary in Canada.

“Epithelial ovarian cancer is among the deadliest gynecological tumors worldwide”, notes the study’s researchers. “Studies have shown that cannabidiol has antiproliferative, pro-apoptotic, cytotoxic, antiangiogenic, anti-inflammatory, and immunomodulatory properties. However, its therapeutic value for epithelial ovarian tumors remains unclear. ”
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United States Senator Files Marijuana Expungement Bill

Legislation to facilitate marijuana expungements including establishing a federal grant program for states and localities has been filed in the United States Senate.

The Harnessing Opportunity by Pursuing Expungement (HOPE) Act was filed today by Senator Jacky Rosen (D-NV). The measure was filed roughly a year after the HOPE Act was filed in the House of Representatives by Congressmember Greg Murphy (R-NC) along with four bipartisan cosponsors.

“While cannabis has been regulated in our state since 2017, many Nevadans are still dealing with the effects of past low-level marijuana offenses”, says Senator Rosen. “Having a record for something that is now legal in our state threatens Nevadans’ ability to get a job, apply for housing, and contribute to our state’s economy.”
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US Senate Committee Approves Resolution Calling for Release of American Jailed 14 Years in Russia for Medical Marijuana

A key committee in the United States Senate has given approval to a resolution calling for the immediate release of several Americans imprisoned in Russia.

Marc Fogel, an American citizen jailed in Russia for 14 years for possessing 17 grams of medical marijuana.

One of those individuals was Marc Fogel, a teacher from Pennsylvania who was sentenced to 14 years in prison for possessing a little over half an ounce of marijuana that was prescribed by his doctor.

Today the Senate Foreign Relations Committee voted to pass Senate Resolution 629 to the full Senate.
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A Look at All 15 Marijuana-Related Bills Currently Active in US Congress

Here’s a look at every marijuana-related bill currently alive in the United States Congress.

Based on the rules of the US Congress, any marijuana-related bill filed prior to January, 2023 is no longer active, although lawmakers do have the opportunity to refile bills if they so choose. Currently there are 15 active marijuana-related bills, with some having garnered far more tractions than others up to this point.

With that in mind, here’s a look at all 15 marijuana-related bills currently active in Congress, in order of the most sponsors:
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US Senate Resolution Calling for Release of American Jailed in Russia for Medical Marijuana Gains 22nd Sponsor

A resolution in the United States Senate calling for the immediate release of several Americans imprisoned in Russia, including one sentenced to 14 years for possessing medical marijuana, has gained its 22nd sponsor, representing nearly a fourth of the entire chamber.

Senator Alex Padilla has signed on as a cosponsor to Senate Resolution 629, days after it was introduced in the Senate by a coalition of 21 senators led by Senate Majority Whip Dick Durbin (D-IL) and Senators Tim Kaine (D-VA) and John Fetterman (D-PA).

The resolution formally condemns the Russian government for their arrests of several American citizens and calling for their immediate and unconditioned release. One of those currently jailed in Russia is Marc Fogel, a school teacher who has been sentenced to 14 years simple for possessing a small amount of marijuana that was recommended by his physician.
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