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Home 🌿 Marijuana Business News 🌿 Oregon bills to make cannabis banking, investment easier sail forward 🌿Oregon bills to make cannabis banking, investment easier sail forward
Bills to eliminate residency requirements for pot business ownership, give lenders legal protections and combine medical and recreational cannabis retail outlets all moved forward easily in the Oregon Legislature last week, though none have yet become law.
While all relate to cannabis, the three bills seek to achieve a variety of outcomes for the young industry.
Better banking
House Bill 4094 aims to address the "duffel bag full of cash" conundrum that plagues the legal marijuana industry. Due to the substance's federal illegal status, many lenders are wary of providing financial services to cannabis companies. The bill explicitly exempts lenders from state criminal liability under Oregon law.
If passed, it's unclear whether lenders will begin offering services due to the federal legal situation. HB 4094 passed the Oregon House by a 56-3 vote. It will now head to the Oregon Senate.
More medical options
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