Oregon House Passes Marijuana Banking Bill
By Anthony Johnson
The Oregon House of Representatives passed a landmark marijuana banking bill, exempting banks and credit unions from any state liability for conducting financial services with state-regulated marijuana businesses. Ultimately, the cannabis industry needs a federal fix to the banking issue, but the state of Oregon is showing real leadership by moving this important bill. House Bill 4094 passed the bill 56-3 with just 3 Republicans voting against the bill and one Democrat absent. The bill now moves to the Senate.
It is common sense to allow state-regulated marijuana businesses to have access to banking services.
This 2016 legislative session is already shaping up to be very important for the Oregon cannabis community. The Oregon House has already passed House Bill 4014, a comprehensive marijuana bill that decreased the patient fee for veterans; allows medical marijuana businesses to deduct normal expenses from state taxes; mandates that medical cannabis...
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