Bill HB4014 – To end restrictions on out of state investment and participation in the industry
Bill HB4094 – To throw out state criminal liability for banks providing financial services to the industry
Bill SB1511 Allow for Medical Marijuana patients to purchase from recreational retailers
Monday morning the House will cast their ballot on HB 4014 ( Introduced 2 ). If passed, this legislation would remove the two-year residency requirement for those looking to enter Oregon’s marijuana industry, potentially opening the floodgates to a pent-up horde of out-of-state investors.
Banking is not a crime: Also on Monday, HB 4094 will go before Oregon’s House of Representatives in the hopes of gaining some long-overdue support for those banks that choose to provide financial services to the budding industry. House Bill 4094 seeks to toss out any potential state criminal liability for those banks doing business within the marijuana industry. This welcome piece of legislation is meant to soothe the tattered nerves of those within world of high finance, providing cover from what many feel is an overreaching federal government.
Not enough? On Tuesday, one of the more noteworthy pieces of legislation, SB 1511, will be going before a joint committee for a vote by both members of the House & Senate. If passed, the bill would permit Oregon’s medical marijuana patients to purchase their medicine from recreational shops tax-free, representing a critical change to the states existing laws. As it currently stands, recreational pot shops and medical cannabis dispensaries are considered completely separate business models.
Provided these legislative advancements receive the required votes and pass next week, Oregon’s patients and pot patrons alike could soon see the framework around their marijuana business models change dramatically … fingers crossed.