arrow_back Civic Audit
Share share

Easier Insurance for Legal Cannabis Businesses

This bill aims to make it easier for insurance companies to offer policies to legitimate cannabis businesses operating under state law. This means these businesses can more easily obtain insurance, potentially impacting their stability and growth. The bill also protects insurers from federal penalties for working with such companies.
Key points
Insurers can confidently offer policies to legal cannabis businesses without fear of federal penalties.
The bill prohibits federal agencies from discouraging insurers from working with legitimate cannabis businesses.
A study will be conducted on barriers for minority and women-owned cannabis businesses to improve their market entry and access to financial services.
article Official text account_balance Process page notifications_active Track this Bill
gavel
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 118_HR_2984
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2023-04-27
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

CLAIM Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2984.

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 2023-04-27.

What are the main provisions?

Key points include:

  • Insurers can confidently offer policies to legal cannabis businesses without fear of federal penalties.
  • The bill prohibits federal agencies from discouraging insurers from working with legitimate cannabis businesses.
  • A study will be conducted on barriers for minority and women-owned cannabis businesses to improve their market entry and access to financial services.
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. Velazquez, Nydia M. [D-NY-7].

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 2025-12-25.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law