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Senate Committee Adds New Witnesses For Marijuana Banking Hearing This Week

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The U.S. Senate Banking Committee has added new witnesses who will testify at a hearing on bipartisan marijuana banking bill this week.

In addition to the top bipartisan sponsors of the Secure and Fair Enforcement (SAFE) Banking Act, a union representative and a cannabis financial services company representative will also share their perspective on the legislation and underlying financial services issues in the cannabis industry at Thursday’s hearing.

Marijuana Moment has also learned that an equity-focused cannabis reform advocate and leading prohibitionist will testify, though they have not been officially listed on the hearing page yet.

Banking Committee Chairman Sherrod Brown (D-OH) said last week that senators planned to “move quickly” on the legislation from Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT).

Beside Merkley and Daines, here are the witnesses that have been added to testify at the committee hearing: 

Cat Packer, Cannabis Regulators of Color Coalition (CRCC) and Drug Policy Alliance (DPA)

Packer is a former Los Angeles cannabis regulator who now serves as vice chair of CRCC and director of drug markets and legal regulation at DPA. She has not been listed on the hearing page, but multiple sources told Marijuana Moment that she will participate.

Following the

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California Officials Award More Than $50 Million In Marijuana Tax-Funded Community Reinvestment Grants

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California officials have awarded more than $50 million in marijuana tax-funded community reinvestment grants, the state announced on Thursday.

The Governor’s Office of Business and Economic Development (GO-Biz) said that the funds are being distributed to 31 different local health departments and community-based nonprofit organizations that support economic and social development in areas disproportionately impacted by the war on drugs.

This marks the fifth year in a row that the office has provided the grant funding. And the cannabis tax dollars that are supporting the program increased by about $15 million compared to last year.

The funds will be used to support efforts such as job placement, mental health and substance use disorder treatment, legal services and linkages to medical care.

Here are some examples of the organizations that are receiving the grants

Goodwill of the San Francisco Bay: $2,998,487.50 Los Angeles Conservation Corps: $1,933,467.60 County of Los Angeles Department of Public Health: $3,000,000.00 Uncommon Law: $3,000,000.00 Monterey County Health Department: $3,000,000.00 Pro Bono Project Silicon Valley: $600,000.00

GO-Biz said that they “anticipate issuing our next grant solicitation in August of 2023.”

Funding levels for the program have been consistently increasing year over year. In 2021, for example,

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Maryland Officials Release Draft Marijuana Rules To Prepare For Legalization This Summer

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Maryland officials have released draft regulations for the state’s adult-use marijuana market that’s set to come online in July in accordance with a legalization ballot referendum that voters approved last year.

Weeks after Gov. Wes Moore (D) signed cannabis sales legislation into law, the Marijuana Cannabis Administration (MCA) submitted a first batch of rules for the industry on Friday to the Joint Committee on Administrative, Executive, and Legislative Review (AELR).

That panel will need to review and approve the emergency regulations, which will also be published in the Maryland Register before they’re enacted.

But the relatively quick turnaround with the proposed regulations is another sign that Maryland intends to have a recreational market up and running in time for the implementation of voter-approved legalization on July 1.

The 41-page draft rule sets definitions, codifies personal possession limits, lays out responsibilities for regulators, explains licensing protocol—including for social equity applicants, clarifies enforcement authorities and penalties and outlines packaging and labeling requirements.

There’s significant focus on converting current medical marijuana businesses to dual licenses to start serving adult consumers, which they would be effectively forced to do in order to continue operating. The rules also cover the processes and fees for different

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Marijuana Lobbying Firm Apologies For ‘Misguided’ Letter Referencing ‘Chinese-Backed Investors’ In Push For Banking Bill Amendments

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A major marijuana lobbying firm has apologized after sending a letter to Senate committee leadership concerning a bipartisan cannabis banking bill that contained “inappropriate” references to investments from China in a “misguided attempt” to push for amendments expanding the legislation.

The original letter that was sent to Senate Banking Committee leaders last week took some by surprise—in part because it advocated for a significant revision to free up all financial services to the cannabis industry, including representation on major U.S. stock exchanges. But controversy also swelled around its argument that the expanded reform is necessary in order to compete against an illicit market funded by “Chinese-backed investors.”

The language was read by some as racially inflammatory, playing into xenophobic concerns over China and Chinese people in a way that risked alienating Asian advocates in the community.

Now The Liaison Group (TLG), which led the letter on behalf of SAFE Banking for Equity, is walking it back and apologizing to the various organizations that were listed as signatories but which did not receive an opportunity to review the draft before it was sent.

“The Liaison Group acknowledges that language referencing ‘Chinese-backed investments’ was a misguided attempt and poor judgment,” the statement

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