Bill > LD859

This bill directs the Treasurer of State to conduct a comprehensive review of banking options for the cannabis industry in Maine. Specifically, the Treasurer will collaborate with various state agencies, including the Finance Authority of Maine and the Office of Cannabis Policy, to explore banking solutions for individuals and businesses involved in both adult-use and medical cannabis industries. The review will involve examining successful banking approaches in other states that have legalized cannabis, investigating current federal-level banking solution efforts, and identifying potential legislative actions to encourage federal banking support for the cannabis sector. By December 3, 2025, the Treasurer is required to submit a detailed report to the Joint Standing Committee on Veterans and Legal Affairs, which will then have the authority to propose legislation based on the report's findings during the Second Regular Session of the 132nd Legislature. This bill aims to address the ongoing banking challenges faced by cannabis-related businesses, which often struggle to access traditional banking services due to federal restrictions.

Military Affairs and Security

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=859&snum=132