Full Text of HR0121 100th General Assembly
HR0121ham001 100TH GENERAL ASSEMBLY |
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| 1 | | AMENDMENT TO HOUSE RESOLUTION 121
| 2 | | AMENDMENT NO. ___. Amend House Resolution 121 by deleting | 3 | | everything and replacing it with the following: | 4 | | "WHEREAS, The State of Illinois traditionally exercises | 5 | | its police powers to reflect local
values and needs when | 6 | | determining appropriate law enforcement policies; and | 7 | | WHEREAS, Illinois, as with many other states across the | 8 | | United States, has acted upon the
issues of cannabis | 9 | | decriminalization and uses for medicinal purposes by adopting a | 10 | | variety of policies
for regulating the use of cannabis; and | 11 | | WHEREAS, Twenty-eight states and the District of Columbia | 12 | | allow for the medicinal use of cannabis; and | 13 | | WHEREAS, Eight states have passed legislation to legalize | 14 | | the use of recreational cannabis; and |
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| 1 | | WHEREAS, In the enactment of legislation allowing for the | 2 | | use of cannabis for medicinal or
recreational purposes, states | 3 | | have provided for the regulation and taxation of the use of
| 4 | | cannabis; and | 5 | | WHEREAS, Cannabis remains a Schedule I Drug under the | 6 | | federal Controlled Substances
Act, classifying it among the | 7 | | most dangerous drugs in the Act; and | 8 | | WHEREAS, This creates a problem for cannabis-related | 9 | | businesses that are legally operating
pursuant to State law and | 10 | | makes it more difficult for consumers or businesses who are | 11 | | authorized to
grow, sell, or purchase cannabis products under | 12 | | state law; and | 13 | | WHEREAS, Many financial institutions have been unwilling | 14 | | to do business with cannabis-related businesses because of | 15 | | existing federal law and policies; and | 16 | | WHEREAS, Many cannabis-related businesses rely upon cash | 17 | | transactions, which increases the
risk of various crimes and | 18 | | impairs the ability of states to collect taxes; and | 19 | | WHEREAS, In the interest of promoting efficient business | 20 | | practices, financial institutions
should be confident in |
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| 1 | | serving businesses legally operating in the State of Illinois | 2 | | under State law so long as safety
and soundness requirements | 3 | | are met; and | 4 | | WHEREAS, Legislation has been introduced in Congress to | 5 | | provide specific regulatory protection and immunity from | 6 | | federal prosecution for depository institutions providing | 7 | | financial services to cannabis-related businesses acting under | 8 | | applicable state law; and | 9 | | WHEREAS, Maintaining a business relationship with | 10 | | financial institutions will allow for
greater access to loans, | 11 | | as well as debit and credit transactions for businesses serving
| 12 | | the cannabis industry, their employees, and for consumers | 13 | | purchasing cannabis legally under state law; therefore, be it | 14 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | 15 | | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we | 16 | | urge Congress to amend federal law to provide immunity from | 17 | | federal prosecution and regulatory protections for financial | 18 | | institutions legally providing services to cannabis-related | 19 | | businesses, licensees, and consumers pursuant to applicable | 20 | | state law; and be it further | 21 | | RESOLVED, That suitable copies of this resolution be | 22 | | delivered to President Donald Trump, U.S. Senate Majority |
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| 1 | | Leader Mitch McConnell, U.S. Senate Minority Leader Chuck | 2 | | Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of | 3 | | Representatives Minority Leader Nancy Pelosi, and all members | 4 | | of the Illinois Congressional Delegation."
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