Legislative Bill Tracking
The Assembly and Senate passed A.8977 (Lupardo)/S.6968 (Metzger), which provides measures relating to the growth, sale distribution, transportation, and processing of hemp and the regulation of cannabinoid hemp and hemp extract products. The Governor then signed the bill into law, enacting Chapter 1 of 2020.
House members who supported the SAFE Banking Act wrote to Senate Banking Committee Chairman Mike Crapo (R-Idaho) in response to the Chairman’s concerns about the bill’s safe harbor for financial institutions that serve legitimate cannabis businesses in states where it is legal. Bipartisan lawmakers who supported the bill reiterate that the measure does not legalize marijuana, but merely resolves a jurisdictional discrepancy in law.
For additional information on any of the State or Federal issues, please contact:
Michael P. Smith, President, NYBA, at (212) 297-1699
Clare M. Cusack, General Counsel, at (212) 297-1664
Megan Rowan McGovern, Deputy General Counsel & VP, Government Relations, at (212) 297-1669