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| | HR0121HAM001 | | LRB100 08758 MST 24251 a |
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| 1 | | AMENDMENT TO HOUSE RESOLUTION 121
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| 2 | | AMENDMENT NO. ___. Amend House Resolution 121 by deleting |
| 3 | | everything and replacing it with the following:
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| 4 | | "WHEREAS, The State of Illinois traditionally exercises |
| 5 | | its police powers to reflect local
values and needs when |
| 6 | | determining appropriate law enforcement policies; and
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| 7 | | WHEREAS, Illinois, as with many other states across the |
| 8 | | United States, has acted upon the
issues of cannabis |
| 9 | | decriminalization and uses for medicinal purposes by adopting a |
| 10 | | variety of policies
for regulating the use of cannabis; and
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| 11 | | WHEREAS, Twenty-eight states and the District of Columbia |
| 12 | | allow for the medicinal use of cannabis; and
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| 13 | | WHEREAS, Eight states have passed legislation to legalize |
| 14 | | the use of recreational cannabis; and
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| 1 | | WHEREAS, In the enactment of legislation allowing for the |
| 2 | | use of cannabis for medicinal or
recreational purposes, states |
| 3 | | have provided for the regulation and taxation of the use of
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| 4 | | cannabis; and
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| 5 | | WHEREAS, Cannabis remains a Schedule I Drug under the |
| 6 | | federal Controlled Substances
Act, classifying it among the |
| 7 | | most dangerous drugs in the Act; and
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| 8 | | WHEREAS, This creates a problem for cannabis-related |
| 9 | | businesses that are legally operating
pursuant to State law and |
| 10 | | makes it more difficult for consumers or businesses who are |
| 11 | | authorized to
grow, sell, or purchase cannabis products under |
| 12 | | state law; and
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| 13 | | WHEREAS, Many financial institutions have been unwilling |
| 14 | | to do business with cannabis-related businesses because of |
| 15 | | existing federal law and policies; and
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| 16 | | WHEREAS, Many cannabis-related businesses rely upon cash |
| 17 | | transactions, which increases the
risk of various crimes and |
| 18 | | impairs the ability of states to collect taxes; and
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| 19 | | WHEREAS, In the interest of promoting efficient business |
| 20 | | practices, financial institutions
should be confident in |
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| | HR0121HAM001 | - 3 - | LRB100 08758 MST 24251 a |
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| 1 | | serving businesses legally operating in the State of Illinois |
| 2 | | under State law so long as safety
and soundness requirements |
| 3 | | are met; and
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| 4 | | WHEREAS, Legislation has been introduced in Congress to |
| 5 | | provide specific regulatory protection and immunity from |
| 6 | | federal prosecution for depository institutions providing |
| 7 | | financial services to cannabis-related businesses acting under |
| 8 | | applicable state law; and
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| 9 | | WHEREAS, Maintaining a business relationship with |
| 10 | | financial institutions will allow for
greater access to loans, |
| 11 | | as well as debit and credit transactions for businesses serving
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| 12 | | the cannabis industry, their employees, and for consumers |
| 13 | | purchasing cannabis legally under state law; therefore, be it
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| 14 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE |
| 15 | | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we |
| 16 | | urge Congress to amend federal law to provide immunity from |
| 17 | | federal prosecution and regulatory protections for financial |
| 18 | | institutions legally providing services to cannabis-related |
| 19 | | businesses, licensees, and consumers pursuant to applicable |
| 20 | | state law; and be it further
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| 21 | | RESOLVED, That suitable copies of this resolution be |
| 22 | | delivered to President Donald Trump, U.S. Senate Majority |