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This joint resolution addresses the challenges faced by marijuana-related businesses in accessing banking services and urges the United States Congress to pass the SAFER Banking Act of 2023. The resolution highlights that while marijuana remains illegal under federal law, 38 states (including Montana) have legalized medical or recreational use, and 61% of Americans support nationwide legalization. Currently, marijuana businesses are hindered by limited banking access, forcing them to operate primarily in cash, which increases risks of crime, tax evasion, and regulatory violations. The SAFER Banking Act, co-sponsored by Montana's Senators Steve Daines and Jon Tester, would prevent financial institutions from being penalized for providing services to marijuana-related businesses. The resolution emphasizes the economic benefits to Montana, including over $117 million in tax revenues from marijuana sales between January 2022 and April 2024, and argues that passing the act would improve public safety, enable better financial monitoring of marijuana businesses, and respect state-level marijuana legislation. The Montana Legislature formally requests that the U.S. Congress pass the SAFER Banking Act and directs the Secretary of State to distribute copies of the resolution to key congressional leaders and Montana's congressional delegation.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC0206