Full Text of HR0121 100th General Assembly
HR0121enr 100TH GENERAL ASSEMBLY |
| | HR0121 Enrolled | | LRB100 08758 MST 21474 r |
|
| 1 | | HOUSE RESOLUTION 121
| 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
issues of cannabis | 7 | | decriminalization and uses for medicinal purposes by adopting a | 8 | | variety of policies
for regulating the use of cannabis; and | 9 | | WHEREAS, Twenty-eight states and the District of Columbia | 10 | | allow for the medicinal use of cannabis; and | 11 | | WHEREAS, Eight states have passed legislation to legalize | 12 | | the use of recreational cannabis; and | 13 | | WHEREAS, In the enactment of legislation allowing for the | 14 | | use of cannabis for medicinal or
recreational purposes, states | 15 | | have provided for the regulation and taxation of the use of
| 16 | | cannabis; and | 17 | | WHEREAS, Cannabis 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 Enrolled | - 2 - | LRB100 08758 MST 21474 r |
|
| 1 | | WHEREAS, This creates a problem for cannabis-related | 2 | | businesses that are legally operating
pursuant to State law and | 3 | | makes it more difficult for consumers or businesses who are | 4 | | authorized to
grow, sell, or purchase cannabis products under | 5 | | state law; and | 6 | | WHEREAS, Many financial institutions have been unwilling | 7 | | to do business with cannabis-related businesses because of | 8 | | existing federal law and policies; and | 9 | | WHEREAS, Many cannabis-related businesses rely upon cash | 10 | | transactions, which increases the
risk of various crimes and | 11 | | impairs the ability of states to collect taxes; and | 12 | | WHEREAS, In the interest of promoting efficient business | 13 | | practices, financial institutions
should be confident in | 14 | | serving businesses legally operating in the State of Illinois | 15 | | under State law so long as safety
and soundness requirements | 16 | | are met; and | 17 | | WHEREAS, Legislation has been introduced in Congress to | 18 | | provide specific regulatory protection and immunity from | 19 | | federal prosecution for depository institutions providing | 20 | | financial services to cannabis-related businesses acting under | 21 | | applicable state law; and |
| | | HR0121 Enrolled | - 3 - | LRB100 08758 MST 21474 r |
|
| 1 | | WHEREAS, Maintaining a business relationship with | 2 | | financial institutions will allow for
greater access to loans, | 3 | | as well as debit and credit transactions for businesses serving
| 4 | | the cannabis industry, their employees, and for consumers | 5 | | purchasing cannabis legally under state law; therefore, be it | 6 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | 7 | | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we | 8 | | urge Congress to amend federal law to provide immunity from | 9 | | federal prosecution and regulatory protections for financial | 10 | | institutions legally providing services to cannabis-related | 11 | | businesses, licensees, and consumers pursuant to applicable | 12 | | state law; and be it further | 13 | | RESOLVED, That suitable copies of this resolution be | 14 | | delivered to President Donald Trump, U.S. Senate Majority | 15 | | Leader Mitch McConnell, U.S. Senate Minority Leader Chuck | 16 | | Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of | 17 | | Representatives Minority Leader Nancy Pelosi, and all members | 18 | | of the Illinois Congressional Delegation.
|
|