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H.R. 1595: SAFE Banking Act of 2019

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To create protections for depository institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses, and for other purposes.

The bill’s titles are written by its sponsor.

Sponsor and status

Ed Perlmutter

Sponsor. Representative for Colorado's 7th congressional district. Democrat.

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Last Updated: Jun 5, 2019
Length: 22 pages
Introduced
Mar 7, 2019
Status

Ordered Reported on Mar 28, 2019

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on March 28, 2019.

Prognosis
37% chance of being enacted according to Skopos Labs (details)
Source

Position statements

What legislators are saying

Nation’s Attorneys General, Treasurers Support and Urge Passage of SAFE Banking
    — Rep. Ed Perlmutter [D-CO7] (Sponsor) on May 8, 2019

Nevada Current: Weed banking bill moves to House
    — Rep. Dina Titus [D-NV1] (Co-sponsor) on Mar 29, 2019

Crist scores major wins for medical marijuana patients
    — Rep. Charlie Crist [D-FL13] (Co-sponsor) on Jun 10, 2019

More statements at ProPublica Represent...

What stakeholders are saying

Institute for Spending Reform: SpendingTracker.org estimates H.R. 1595 will add $8 million in new spending through 2029.
NORML: Currently, hundreds of licensed and regulated businesses do not have access to the banking industry and are unable to accept credit cards, deposit revenues, or write checks to meet payroll or pay taxes. This situation is untenable. No industry can operate ...

History

Mar 7, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Mar 26, 2019
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Mar 28, 2019
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Jun 5, 2019
 
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

If this bill has further action, the following steps may occur next:
 
Passed House

 
Passed Senate

 
Signed by the President

H.R. 1595 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 1595 — 116th Congress: SAFE Banking Act of 2019.” www.GovTrack.us. 2019. June 17, 2019 <https://www.govtrack.us/congress/bills/116/hr1595>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.