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Financial Access for Legal Cannabis Businesses in the US

This act aims to ease access to financial services like loans, investments, and insurance for legal cannabis businesses. This will help these companies grow, potentially leading to more jobs and wider availability of cannabis products in states where they are legal. Citizens may see increased stability and development in this economic sector.
Key points
Cannabis businesses and their service providers will gain access to banking, loans, and insurance without fear of federal penalties.
National securities exchanges will be able to safely list shares of legal cannabis companies, making it easier for them to raise capital.
The act seeks to remove financial barriers for legally operating cannabis-related businesses, supporting their growth.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_8200
Sponsor: Rep. Carter, Troy [D-LA-2]
Process start date: 2022-06-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

CLIMB Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8200.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-06-23.

What are the main provisions?

Key points include:

  • Cannabis businesses and their service providers will gain access to banking, loans, and insurance without fear of federal penalties.
  • National securities exchanges will be able to safely list shares of legal cannabis companies, making it easier for them to raise capital.
  • The act seeks to remove financial barriers for legally operating cannabis-related businesses, supporting their growth.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Carter, Troy [D-LA-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law