HOUSE PASSES LEGISLATION TO MAKE SMALL BUSINESSES IN CANNABIS INDUSTRY ELIGIBLE FOR SBA LENDING PROGRAMS

摘要

On December 4, 2020, the House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2020. The bipartisan bill decriminalizes marijuana at the federal level while enabling states to set their regulatory policies without the threat of federal intervention. The bill also includes provisions, championed by Small Business Committee Chairwoman Nydia M. Velazquez (D-NY), that would allow small businesses operating in the legal can-nabis industry to participate in Small Business Administration (SBA) lending programs.