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1
HOUSE JOINT RESOLUTION

 
2    WHEREAS, The State of Illinois traditionally exercises its
3police powers to reflect local values and needs when
4determining appropriate law enforcement policies; and
 
5    WHEREAS, Illinois, as with many other states across the
6United States, has acted upon the issues of cannabis
7decriminalization by adopting a variety of policies for
8regulating the use of cannabis; and
 
9    WHEREAS, Thirty-three states and the District of Columbia
10allow for the medicinal use of cannabis; and
 
11    WHEREAS, Ten states and the District of Columbia have
12passed legislation to legalize the use of recreational
13cannabis; and
 
14    WHEREAS, In the enactment of legislation allowing for the
15use of cannabis for medicinal or recreational purposes, states
16have provided for the regulation and taxation of the use of
17cannabis; and
 
18    WHEREAS, Cannabis remains a Schedule I Drug under the
19federal Controlled Substances Act, classifying it among the
20most dangerous drugs in the Act; and
 

 

 

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1    WHEREAS, This creates a problem for cannabis-related
2businesses that are legally operating pursuant to state law and
3makes it more difficult for consumers or businesses who are
4authorized to grow, sell, or purchase cannabis products under
5state law; and
 
6    WHEREAS, Many financial institutions have been unable to do
7business with cannabis-related businesses because of existing
8federal law and policies; and
 
9    WHEREAS, Many cannabis-related businesses rely upon cash
10transactions, which increases the risk of various crimes and
11impairs the ability of states to collect taxes; and
 
12    WHEREAS, In the interest of promoting efficient business
13practices, financial institutions should be confident in
14serving businesses legally operating in the State of Illinois
15under state law so long as safety and soundness requirements
16are met; and
 
17    WHEREAS, Legislation has been introduced in Congress to
18provide specific regulatory protection and immunity from
19federal prosecution for depository institutions providing
20financial services to cannabis-related businesses acting under
21applicable state law; and
 

 

 

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1    WHEREAS, Maintaining a business relationship with
2financial institutions will allow for greater access to loans,
3as well as debit and credit transactions for businesses serving
4the cannabis industry, their employees, and for consumers
5purchasing cannabis legally under state law; therefore, be it
 
6    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
7HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE
8SENATE CONCURRING HEREIN, that we urge Congress to amend
9federal law to provide immunity from federal prosecution and
10regulatory protections for financial institutions legally
11providing services to cannabis-related businesses, licensees,
12and consumers pursuant to applicable state law; and be it
13further
 
14    RESOLVED, That suitable copies of this resolution be
15delivered to President Donald Trump, U.S. Senate Majority
16Leader Mitch McConnell, U.S. Senate Minority Leader Chuck
17Schumer, U.S. Speaker of the House Nancy Pelosi, U.S. House of
18Representatives Minority Leader Kevin McCarthy, and all
19members of the Illinois Congressional Delegation.