Feds want more cannabis banking info (Newsletter: September 14, 2022)

MO Supreme Court keeps legalization on ballot; PA marijuana license bill; Atlanta psychedelics decrim; Poll: OR voters still support drug decrim

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/ TOP THINGS TO KNOW

The Treasury Department’s Office of the Comptroller of the Currency is asking for White House permission to begin requiring banks to report new information about their marijuana business clients’ accounts.

The Missouri Supreme Court rejected marijuana opponents’ last-ditch effort to remove a legalization measure from the November ballot.

A Pennsylvania Republican senator announced plans to file a new bill that would allow all medical cannabis grower/processors to also open dispensaries—in addition to the five limited companies that are allowed to do so now.

The Atlanta, Georgia City Council Public Safety & Legal Administration Committee took testimony on a psychedelics decriminalization measure that was recently introduced. Members said they want to schedule a work session on the proposal soon due to “significant interest from the public.”

A new poll found that Oregon likely voters continue to strongly support the drug decriminalization law that they approved on the ballot in 2020.

/ FEDERAL

White House Office of National Drug Control Policy Director Rahul Gupta answered written questions from the Senate Caucus on International Narcotics Control.

Sens. James Lankford (R-OK) and Jim Inhofe (R-OK) filed a bill to institute oversight and transparency of purchases of U.S. agricultural land that could threaten national security, citing concerns about transnational criminal organizations taking advantage of Oklahoma’s medical cannabis law.

Sen. Chuck Grassley (R-IA) said he hopes the Senate will soon approve a House-passed cannabis research bill.

Sen. Tom Cotton (R-AR) tweeted, “Legalizing marijuana often means more crime, more violence, and more impaired driving.  California’s experience is a warning for Arkansas. Vote NO on Issue 4.”

Sen. John Boozman (R-AR) tweeted, “Arkansans should know legalizing recreational marijuana isn’t the “win-win” its supporters promise. Learn more about the negative consequences for minors, safety, and more at http://safeandsecurecommunities.com, and join me in voting NO on Issue 4 this November.”

Rep. French Hill (R-AR) tweeted, “As our nation grapples with a historic labor shortage, anything that could further depress workforce participation and hurt young people is unwise. That’s why I am voting NO on Issue 4. Recreational marijuana is not the answer for #Arkansas.”

/ STATES

Arkansas’s secretary of state issued a declaration that a marijuana legalization initiative is insufficient to appear on the November ballot because the State Board of Election Commissioners did not certify its ballot title and popular name—a procedural step needed to advance an overarching challenge concerning the measure in the state Supreme Court.

A Wisconsin representative announced that a survey he conducted of his constituents shows that 48 percent back legalizing marijuana for both recreational and medical use, 28 percent want to allow medical use only, 18 percent want it to remain criminalized and 6 percent want possession to be decriminalized.

An Indiana senator tweeted, “As we get closer to the Study Committee on cannabis policy, it’s important we don’t forget about hemp policy. Hemp can be used for many essential products. Unfortunately, our policies don’t do much to support farmers or give them flexibility. We’ve got the potential to be a leader in hemp farming and manufacturing in Indiana, but we’ve got to modernize our laws to make it happen.”

An Iowa court ruled that using an out-of-state medical cannabis recommendation is not a valid defense in a marijuana case.

The North Dakota Department of Health and Human Services is being accused of misleading voters with a fiscal note on the marijuana legalization measure on the November ballot by not including projected tax revenue.

Connecticut regulators filed revised marijuana rules.

New York regulators approved a partnership on a cannabis fund between the Dormitory Authority of the State of New York and Social Equity Impact Ventures GP I, LLC.

California officials published an FAQ about cannabis industry payroll tax reporting.

Pennsylvania regulators published a list of pesticides that can be used on medical cannabis.

Missouri regulators published updated data on the number of medical cannabis businesses that are approved to operate.

Hawaii officials are accepting testimony for the Dual Use of Cannabis Task Force meeting on September 19.

Utah regulators posted an update about the medical cannabis program.

Vermont regulators will discuss marijuana inventory tracking requirements on Wednesday.

Oklahoma regulators will host a webinar about medical cannabis licensing on Thursday.

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Marijuana Moment is tracking more than 1,500 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
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/ LOCAL

The Wichita, Kansas City Council approved a proposal to decriminalize marijuana, along with fentanyl test strips.

San Francisco, California officials are accepting comments on proposed marijuana equity rules.

More than two California cities and counties could vote on local ballot measures to allow marijuana businesses in November.

Etowah County, Alabama officials kept a woman incarcerated for three months because she admitted to smoking marijuana on the same day she found out she was pregnant.

/ INTERNATIONAL

British Columbia, Canada officials spoke about preparations to implement drug decriminalization early next year.

Malaysian officials are warning people not to use cannabis or other illegal drugs while abroad.

/ SCIENCE & HEALTH

A review concluded that “the use of phytocannabinoid-based treatments to disrupt [cancer stem cell] homeostasis is suggested as a potential intervention to prevent chemotherapy resistance.”

A study found that prenatal cannabis exposure “is associated with persisting vulnerability to broad-spectrum psychopathology as children progress through early adolescence.”

/ ADVOCACY, OPINION & ANALYSIS

Marijuana Moment’s Kyle Jaeger was named cannabis policy reporter of the year by Benzinga.

The San Diego Union-Tribune editorial board is calling on California officials to do a better job implementing marijuana legalization.

Protecting Colorado’s Kids is a new campaign committee seeking to defeat the psychedelics legalization initiative on the November ballot.

One Chance to Grow Up launched an ad campaign warning that using cannabis concentrates can lead to “psychotic symptoms.”

/ BUSINESS

Fire & Flower Holdings Corp.  reported quarterly revenue of C$40.7 million and a net loss of C$21.6 million.

Cooperstate Farms LLC is being sued for allegedly underpaying employees by incorrectly calculating overtime pay.

Colorado retailers sold $153.9 million worth of legal marijuana products in July.

/ CULTURE

Teddy Gentry of the band Alabama was arrested on marijuana possession charges.

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Photo courtesy of Chris Wallis // Side Pocket Images.