HR0121 100TH GENERAL ASSEMBLY

HR0121 LRB100 08758 MST 21474 r

HOUSE RESOLUTION

WHEREAS, The State of Illinois traditionally exercises its police powers to reflect local values and needs when determining appropriate law enforcement policies; and

WHEREAS, Illinois, as with many other states across the United States, has acted upon the issue of marijuana decriminalization for medicinal purposes by adopting a variety of policies for regulating the use of marijuana; and

WHEREAS, Twenty-eight states and the District of Columbia allow for the medical use of marijuana; and

WHEREAS, Eight states have passed legislation to legalize the use of recreational marijuana; and

WHEREAS, In the enactment of legislation allowing for the use of marijuana for medicinal or recreational purposes, states have provided for the regulation and taxation of the use of marijuana; and

WHEREAS, Marijuana remains a Schedule I Drug under the federal Controlled Substances Act, classifying it among the most dangerous drugs in the Act; and

WHEREAS, This creates a problem for marijuana-related businesses that are legally operating pursuant to State law and makes it more difficult for consumers who are authorized to purchase marijuana products under State law; and

WHEREAS, Many financial institutions have been unwilling to do business with marijuana-related businesses because of existing federal law and policies; and

WHEREAS, Many marijuana-related businesses rely upon cash transactions, which increase the risk of robbery and impair the ability of states to collect taxes; and

WHEREAS, In the interest of promoting efficient business practices, financial institutions should be confident in serving businesses operating in the State of Illinois so long as safety and soundness requirements are met; and

WHEREAS, Legislation has been introduced in Congress to provide specific regulatory protection and immunity from federal prosecution for depository institutions providing financial services to marijuana-related businesses acting legitimately under applicable state law; and

WHEREAS, Maintaining a business relationship with financial institutions will allow for greater access to loans, as well as debit and credit transactions for both businesses serving the marijuana industry and for consumers filling prescriptions; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to amend federal law to provide immunity from federal prosecution and regulatory protections for financial institutions legally providing services to marijuana-related businesses pursuant to applicable state law; and be it further

RESOLVED, That suitable copies of this resolution be delivered to President Donald Trump, U.S. Senate Majority Leader Mitch McConnell, U.S. Senate Minority Leader Chuck Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of Representatives Minority Leader Nancy Pelosi, and all members of the Illinois Congressional Delegation.