California Legislature Introduces 3 Cannabis Bills Ahead of 2019 Session: Banking, Cannabis Donations and Training Events

The California Legislature has started the 2019 legislative season by introducing three cannabis bills relating to banking, cannabis donations and training events. The California Legislature previously introduced all three bills during the 2018 legislative season. Governor Brown vetoed the cannabis training event and donation bills, which passed the Assembly and Senate with strong support . We believe that all three bills will quickly become law under Governor Newsom.

SB-51 Financial institutions: cannabis. The financial institutions bill would create the Cannabis Limited Charter Banking and Credit Union Law. The new law is a positive step towards filling the banking void in the cannabis industry. However, it does not solve the problem. The federal government has a responsibility to its citizens, investors and the business community to legalize marijuana and provide cannabis clients with access to banking services.  

AB-141 Cannabis: informational, educational, or training events. The bill permitted cannabis licensees to hold informational and training sessions with state and local employees, among others, without a temporary cannabis event license. Governor Brown vetoed the bill as nothing within the current legal framework would prohibit such an event.

SB-34 Cannabis: donations. The compassionate care bill permitted dispensaries to provide free marijuana products to medical marijuana patients. Governor Brown vetoed the bill indicating that it conflicted with the Control, Regulate and Tax Adult Use of Marijuana Act, and undermined the rules and the intent of voters. The bill is currently being considered by California’s Senate, and will need a 2/3 vote to become law.

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