Full Text of HR0121 100th General Assembly
HR0121 100TH GENERAL ASSEMBLY |
| | HR0121 | | LRB100 08758 MST 21474 r |
|
| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, The State of Illinois traditionally exercises its | 3 | | police powers to reflect local
values and needs when | 4 | | determining appropriate law enforcement policies; and
| 5 | | WHEREAS, Illinois, as with many other states across the | 6 | | United States, has acted upon the
issue of marijuana | 7 | | decriminalization for medicinal purposes by adopting a variety | 8 | | of policies
for regulating the use of marijuana; and
| 9 | | WHEREAS, Twenty-eight states and the District of Columbia | 10 | | allow for the medical use of marijuana; and
| 11 | | WHEREAS, Eight states have passed legislation to legalize | 12 | | the use of recreational marijuana; and | 13 | | WHEREAS, In the enactment of legislation allowing for the | 14 | | use of marijuana for medicinal or
recreational purposes, states | 15 | | have provided for the regulation and taxation of the use of
| 16 | | marijuana; and | 17 | | WHEREAS, Marijuana remains a Schedule I Drug under the | 18 | | federal Controlled Substances
Act, classifying it among the | 19 | | most dangerous drugs in the Act; and |
| | | HR0121 | - 2 - | LRB100 08758 MST 21474 r |
|
| 1 | | WHEREAS, This creates a problem for marijuana-related | 2 | | businesses that are legally operating
pursuant to State law and | 3 | | makes it more difficult for consumers who are authorized to
| 4 | | purchase marijuana products under State law; and | 5 | | WHEREAS, Many financial institutions have been unwilling | 6 | | to do business with marijuana-related businesses because of | 7 | | existing federal law and policies; and | 8 | | WHEREAS, Many marijuana-related businesses rely upon cash | 9 | | transactions, which increase the
risk of robbery and impair the | 10 | | ability of states to collect taxes; and
| 11 | | WHEREAS, In the interest of promoting efficient business | 12 | | practices, financial institutions
should be confident in | 13 | | serving businesses operating in the State of Illinois so long | 14 | | as safety
and soundness requirements are met; and | 15 | | WHEREAS, Legislation has been introduced in Congress to | 16 | | provide specific regulatory protection and immunity from | 17 | | federal prosecution for depository institutions providing | 18 | | financial services to marijuana-related businesses acting | 19 | | legitimately under applicable state law; and
| 20 | | WHEREAS, Maintaining a business relationship with | 21 | | financial institutions will allow for
greater access to loans, |
| | | HR0121 | - 3 - | LRB100 08758 MST 21474 r |
|
| 1 | | as well as debit and credit transactions for both businesses | 2 | | serving
the marijuana industry and for consumers filling | 3 | | prescriptions; therefore, be it
| 4 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | 5 | | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we | 6 | | urge Congress to amend federal law to provide immunity from | 7 | | federal prosecution and regulatory protections for financial | 8 | | institutions legally providing services to marijuana-related | 9 | | businesses pursuant to applicable state law; and be it further
| 10 | | RESOLVED, That suitable copies of this resolution be | 11 | | delivered to President Donald Trump, U.S. Senate Majority | 12 | | Leader Mitch McConnell, U.S. Senate Minority Leader Chuck | 13 | | Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of | 14 | | Representatives Minority Leader Nancy Pelosi, and all members | 15 | | of the Illinois Congressional Delegation.
|
|