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Bipartisan “Path to Marijuana Reform” bills introduced to decriminalize, protect, regulate cannabis industry

Three marijuana-related bills address issues such as taxation, banking, civil forfeiture, de-scheduling, decriminalization, research, individual protections and regulation

March 30, 2017

U.S. lawmakers on Thursday introduced a package of marijuana reform bills aimed at protecting and preserving existing state-based programs while laying framework for the federal regulation of cannabis.

Sen. Ron Wyden, D-Oregon, and Rep. Earl Blumenauer, D-Oregon, announced the “Path to Marijuana Reform,” a bipartisan package of three marijuana-related bills that address issues such as taxation, banking, civil forfeiture, de-scheduling, decriminalization, research, individual protections and regulation. Included in the package is the reintroduction of legislation from Rep. Jared Polis, D-Colorado, to regulate marijuana like alcohol.

“The federal government must respect the decision Oregonians made at the polls and allow law-abiding marijuana businesses to go to the bank just like any other legal business.” Wyden said in a statement, referencing the legalization efforts in his home state and those made elsewhere. “This three-step approach will spur job growth and boost our economy all while ensuring the industry is being held to a fair standard.”
 

The Path to Marijuana Reform includes the following bills, according to the announcement from Wyman and Blumenauer:

The Small Business Tax Equity Act — Create an exception to Internal Revenue Code section 280E that would allow businesses compliant with state laws to claim deductions and credits associated with the sale of marijuana. Currently, under 280E, people and businesses cannot claim deductions or credits for the sale of Schedule I or Schedule II substances. Sen. Rand Paul, R-Kentucky, is a cosponsor of Wyden’s Senate bill and Rep. Carlos Curbelo, R-Florida, is sponsoring companion legislation in the House.

Responsibly Addressing the Marijuana Policy Gap Act — Remove federal penalties and civil asset forfeiture for individuals and businesses complying with state law; ensure access to banking, bankruptcy protection, research and advertising; expunge the criminal records for certain marijuana-related offenses; prohibits residents of marijuana-legal states to be required to take a marijuana drug test for positions in the federal civil service; and easing barriers for medical marijuana research.

Marijuana Revenue and Regulation Act (Regulate Marijuana Like Alcohol Act) — Remove marijuana from the Controlled Substances Act; impose an excise tax regime on marijuana products; allow for the permitting for marijuana businesses; regulate marijuana in a manner similar to alcohol. Rep. Polis is sponsoring a portion of this legislation in the House.

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