IB 

Union Calendar No. 78 

116TH CONGRESS 

1ST SESSION H. R. 1595 

[Report No. 116–104, Part I] 

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. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 7, 2019 

Mr. PERLMUTTER (for himself, Mr. HECK, Mr. STIVERS, Mr. DAVIDSON of 

Ohio, Mr. AGUILAR, Ms. BARRAGA ́N, Mr. BEYER, Mr. BLUMENAUER, Ms. 

BONAMICI, Mr. BRENDAN F. BOYLE of Pennsylvania, Mr. BROWN of 

Maryland, Ms. BROWNLEY of California, Mr. CARBAJAL, Mr. CA ́RDENAS, 

Mr. CARTWRIGHT, Ms. CASTOR of Florida, Mr. CICILLINE, Mr. 

CISNEROS, Ms. CLARK of Massachusetts, Ms. CLARKE of New York, Mr. 

COHEN, Mr. COOPER, Mr. CORREA, Mr. COURTNEY, Mr. COX of California, Mr. CRIST, Mr. CROW, Mrs. DAVIS of California, Mr. DEFAZIO, 

Ms. DEGETTE, Ms. DELAURO, Ms. DELBENE, Mr. DESAULNIER, Ms. 

ESHOO, Mr. ESPAILLAT, Mr. FOSTER, Ms. FUDGE, Ms. GABBARD, Mr. 

GALLEGO, Mr. GARCI ́A of Illinois, Mr. GOMEZ, Mr. GONZALEZ of Texas, 

Mr. HASTINGS, Ms. HILL of California, Mr. HORSFORD, Mr. HUFFMAN, 

Ms. JACKSON LEE, Ms. JAYAPAL, Mr. JOHNSON of Georgia, Mr. 

KHANNA, Mr. KILMER, Mrs. KIRKPATRICK, Mr. KRISHNAMOORTHI, Mr. 

LAWSON of Florida, Ms. LEE of California, Mrs. LEE of Nevada, Mr. 

LEVIN of Michigan, Mr. LEVIN of California, Mr. TED LIEU of California, Mr. LUJA ́N, Ms. MATSUI, Ms. MCCOLLUM, Mr. MCGOVERN, Mr. 

MEEKS, Mr. NEGUSE, Ms. NORTON, Mr. PANETTA, Mr. PAPPAS, Ms. 

PINGREE, Ms. PORTER, Mr. QUIGLEY, Mr. RASKIN, Mr. RUSH, Mr. 

RYAN, Mr. ROUDA, Ms. SCHAKOWSKY, Mr. SCHRADER, Mr. SHERMAN, 

Mr. SIRES, Mr. SMITH of Washington, Mr. SOTO, Ms. SPEIER, Mr. 

SWALWELL of California, Ms. TITUS, Mrs. TORRES of California, Mr. 

VARGAS, Ms. VELA ́ZQUEZ, Mrs. WATSON COLEMAN, Mr. WELCH, Ms. 

WILD, Mr. YARMUTH, Mr. RODNEY DAVIS of Illinois, Mr. HUNTER, Mr. 

JOYCE of Ohio, Mr. NEWHOUSE, Mr. YOUNG, Mr. HIMES, Mr. 

LOEBSACK, Ms. LOFGREN, Mr. LOWENTHAL, Mrs. CAROLYN B. MALONEY of New York, Mr. SEAN PATRICK MALONEY of New York, Mr. 


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TAKANO, Mr. THOMPSON of California, Mr. GAETZ, Mr. RIGGLEMAN, Mr. 

DAVID SCOTT of Georgia, Ms. WATERS, and Ms. SCHRIER) introduced 

the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to 

be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee 

concerned 

JUNE 5, 2019 

Additional sponsors: Mr. AMODEI, Mr. BALDERSON, Mr. POCAN, Mr. CONNOLLY, Mr. MCCLINTOCK, Mr. BERA, Mr. PASCRELL, Mr. LARSON of 

Connecticut, Mr. PETERS, Mr. STANTON, Mr. LARSEN of Washington, 

Ms. SA ́NCHEZ, Mr. GRIJALVA, Mr. HARDER of California, Mr. SAN NICOLAS, Mr. HIGGINS of New York, Mr. GOLDEN, Mr. CASE, Ms. MENG, Mr. 

CASTRO of Texas, Mr. MOULTON, Ms. DEAN, Ms. HAALAND, Mr. EVANS, 

Ms. KUSTER of New Hampshire, Mr. KILDEE, Mr. NADLER, Mr. RUIZ, 

Mr. NEAL, Ms. PRESSLEY, Mr. LAMB, Ms. SLOTKIN, Mr. DEUTCH, Mr. 

MICHAEL F. DOYLE of Pennsylvania, Mr. CLAY, Ms. STEVENS, Ms. 

WEXTON, Ms. SCANLON, Ms. BASS, Mrs. MURPHY, Mrs. LAWRENCE, Ms. 

SHERRILL, Mrs. BUSTOS, Mr. MCNERNEY, Mrs. LURIA, Mr. BRINDISI, 

Mr. STEUBE, Mr. TRONE, Mr. MASSIE, Mr. RESCHENTHALER, Mr. NORCROSS, Mr. UPTON, Mr. SARBANES, Mr. BANKS, Ms. FINKENAUER, Mrs. 

DINGELL, Ms. TLAIB, Ms. DAVIDS of Kansas, Mr. MEUSER, Mr. 

MALINOWSKI, Mr. ARMSTRONG, Mr. VELA, Mr. BISHOP of Georgia, Mr. 

GIBBS, Ms. MOORE, Mrs. AXNE, Mr. DELGADO, Ms. TORRES SMALL of 

New Mexico, Ms. KENDRA S. HORN of Oklahoma, Mr. VAN DREW, Ms. 

BLUNT ROCHESTER, Ms. SPANBERGER, Ms. HOULAHAN, Mr. KENNEDY, 

Ms. UNDERWOOD, Mr. JEFFRIES, Mr. COMER, Mr. GARAMENDI, Miss 

GONZA ́LEZ-COLO ́N of Puerto Rico, Mr. TONKO, Mr. BACON, Mr. PAYNE, 

Mr. THOMPSON of Mississippi, Ms. MUCARSEL-POWELL, Mr. SCHIFF, 

Ms. SHALALA, Ms. JUDY CHU of California, Ms. ROYBAL-ALLARD, Ms. 

ESCOBAR, Ms. ADAMS, Ms. FRANKEL, Mr. CASTEN of Illinois, Mr. 

GRAVES of Georgia, Mr. COLLINS of New York, Mr. GONZALEZ of Ohio, 

Mr. MORELLE, Mr. CLEAVER, and Mr. COSTA


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JUNE 5, 2019 

Reported from the Committee on Financial Services with an amendment 

[Strike out all after the enacting clause and insert the part printed in italic] 

JUNE 5, 2019 

Committee on the Judiciary discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 

[For text of introduced bill, see copy of bill as introduced on March 7, 2019] 


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A BILL 

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. 


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1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; PURPOSE. 

4 (a) SHORT TITLE.—This Act may be cited as the ‘‘Se5 cure And Fair Enforcement Banking Act of 2019’’ or the 

6 ‘‘SAFE Banking Act of 2019’’. 

7 (b) PURPOSE.—The purpose of this Act is to increase 

8 public safety by ensuring access to financial services to can9 nabis-related legitimate businesses and service providers 

10 and reducing the amount of cash at such businesses. 

11 SEC. 2. SAFE HARBOR FOR DEPOSITORY INSTITUTIONS. 

12 (a) IN GENERAL.—A Federal banking regulator may 

13 not— 

14 (1) terminate or limit the deposit insurance 

15 or share insurance of a depository institution 

16 under the Federal Deposit Insurance Act (12 

17 U.S.C. 1811 et seq.), the Federal Credit Union 

18 Act (12 U.S.C. 1751 et seq.), or take any other 

19 adverse action against a depository institution 

20 under section 8 of the Federal Deposit Insurance 

21 Act (12 U.S.C. 1818) solely because the deposi22 tory institution provides or has provided finan23 cial services to a cannabis-related legitimate 

24 business or service provider; 


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1 (2) prohibit, penalize, or otherwise discour2 age a depository institution from providing fi3 nancial services to a cannabis-related legitimate 

4 business or service provider or to a State, polit5 ical subdivision of a State, or Indian Tribe that 

6 exercises jurisdiction over cannabis-related legiti7 mate businesses; 

8 (3) recommend, incentivize, or encourage a 

9 depository institution not to offer financial serv10 ices to an account holder, or to downgrade or 

11 cancel the financial services offered to an account 

12 holder solely because— 

13 (A) the account holder is a cannabis14 related legitimate business or service pro15 vider, or is an employee, owner, or operator 

16 of a cannabis-related legitimate business or 

17 service provider; 

18 (B) the account holder later becomes an 

19 employee, owner, or operator of a cannabis20 related legitimate business or service pro21 vider; or 

22 (C) the depository institution was not 

23 aware that the account holder is an em24 ployee, owner, or operator of a cannabis-re25 lated legitimate business or service provider; 


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1 (4) take any adverse or corrective super2 visory action on a loan made to— 

3 (A) a cannabis-related legitimate busi4 ness or service provider, solely because the 

5 business is a cannabis-related legitimate 

6 business or service provider; 

7 (B) an employee, owner, or operator of 

8 a cannabis-related legitimate business or 

9 service provider, solely because the em10 ployee, owner, or operator is employed by, 

11 owns, or operates a cannabis-related legiti12 mate business or service provider, as appli13 cable; or 

14 (C) an owner or operator of real estate 

15 or equipment that is leased to a cannabis16 related legitimate business or service pro17 vider, solely because the owner or operator 

18 of the real estate or equipment leased the 

19 equipment or real estate to a cannabis-re20 lated legitimate business or service provider, 

21 as applicable; or 

22 (5) prohibit or penalize a depository insti23 tution (or entity performing a financial service 

24 for or in association with a depository institu25 tion) for, or otherwise discourage a depository 


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1 institution (or entity performing a financial 

2 service for or in association with a depository 

3 institution) from, engaging in a financial service 

4 for a cannabis-related legitimate business or 

5 service provider. 

6 (b) SAFE HARBOR APPLICABLE TO DE NOVO INSTITU7 TIONS.—Subsection (a) shall apply to an institution apply8 ing for a depository institution charter to the same extent 

9 as such subsection applies to a depository institution. 

10 SEC. 3. PROTECTIONS FOR ANCILLARY BUSINESSES. 

11 For purposes of sections 1956 and 1957 of title 18, 

12 United States Code, and all other provisions of Federal law, 

13 the proceeds from a transaction conducted by a cannabis14 related legitimate business or service provider shall not be 

15 considered as proceeds from an unlawful activity solely be16 cause the transaction was conducted by a cannabis-related 

17 legitimate business or service provider, as applicable. 

18 SEC. 4. PROTECTIONS UNDER FEDERAL LAW. 

19 (a) IN GENERAL.—With respect to providing a finan20 cial service to a cannabis-related legitimate business or 

21 service provider within a State, political subdivision of a 

22 State, or Indian country that allows the cultivation, pro23 duction, manufacture, sale, transportation, display, dis24 pensing, distribution, or purchase of cannabis pursuant to 

25 a law or regulation of such State, political subdivision, or 


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1 Indian Tribe that has jurisdiction over the Indian country, 

2 as applicable, a depository institution, entity performing 

3 a financial service for or in association with a depository 

4 institution, or insurer that provides a financial service to 

5 a cannabis-related legitimate business or service provider, 

6 and the officers, directors, and employees of that depository 

7 institution, entity, or insurer may not be held liable pursu8 ant to any Federal law or regulation— 

9 (1) solely for providing such a financial service; 

10 or 

11 (2) for further investing any income derived 

12 from such a financial service. 

13 (b) PROTECTIONS FOR FEDERAL RESERVE BANKS.— 

14 With respect to providing a service to a depository institu15 tion that provides a financial service to a cannabis-related 

16 legitimate business or service provider (where such financial 

17 service is provided within a State, political subdivision of 

18 a State, or Indian country that allows the cultivation, pro19 duction, manufacture, sale, transportation, display, dis20 pensing, distribution, or purchase of cannabis pursuant to 

21 a law or regulation of such State, political subdivision, or 

22 Indian Tribe that has jurisdiction over the Indian country, 

23 as applicable), a Federal reserve bank, and the officers, di24 rectors, and employees of the Federal reserve bank, may not 

25 be held liable pursuant to any Federal law or regulation— 


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1 (1) solely for providing such a service; or 

2 (2) for further investing any income derived 

3 from such a service. 

4 (c) FORFEITURE.— 

5 (1) DEPOSITORY INSTITUTIONS.—A depository 

6 institution that has a legal interest in the collateral 

7 for a loan or another financial service provided to an 

8 owner, employee, or operator of a cannabis-related le9 gitimate business or service provider, or to an owner 

10 or operator of real estate or equipment that is leased 

11 or sold to a cannabis-related legitimate business or 

12 service provider, shall not be subject to criminal, civil, 

13 or administrative forfeiture of that legal interest pur14 suant to any Federal law for providing such loan or 

15 other financial service. 

16 (2) FEDERAL RESERVE BANKS.—A Federal re17 serve bank that has a legal interest in the collateral 

18 for a loan or another financial service provided to an 

19 owner, employee, or operator of a depository institu20 tion that provides a financial services to a cannabis21 related legitimate business or service provider, or to 

22 an owner or operator of real estate or equipment that 

23 is leased or sold to such a depository institution, shall 

24 not be subject to criminal, civil, or administrative 

25 forfeiture of that legal interest pursuant to any FedVerDate Sep 11 2014 20:20 Jun 05, 2019 Jkt 089200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6203 E:\BILLS\H1595.RH H1595

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1 eral law for providing such loan or other financial 

2 service. 

3 SEC. 5. RULE OF CONSTRUCTION. 

4 Nothing in this Act shall require a depository institu5 tion, entity performing a financial service for or in associa6 tion with a depository institution, or insurer to provide fi7 nancial services to a cannabis-related legitimate business 

8 or service provider. 

9 SEC. 6. REQUIREMENTS FOR FILING SUSPICIOUS ACTIVITY 

10 REPORTS. 

11 Section 5318(g) of title 31, United States Code, is 

12 amended by adding at the end the following: 

13 ‘‘(5) REQUIREMENTS FOR CANNABIS-RELATED

14 LEGITIMATE BUSINESSES.— 

15 ‘‘(A) IN GENERAL.—With respect to a fi16 nancial institution or any director, officer, em17 ployee, or agent of a financial institution that 

18 reports a suspicious transaction pursuant to this 

19 subsection, if the reason for the report relates to 

20 a cannabis-related legitimate business or service 

21 provider, the report shall comply with appro22 priate guidance issued by the Financial Crimes 

23 Enforcement Network. The Secretary shall ensure 

24 that the guidance is consistent with the purpose 

25 and intent of the SAFE Banking Act of 2019 


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1 and does not significantly inhibit the provision 

2 of financial services to a cannabis-related legiti3 mate business or service provider in a State, po4 litical subdivision of a State, or Indian country 

5 that has allowed the cultivation, production, 

6 manufacture, transportation, display, dis7 pensing, distribution, sale, or purchase of can8 nabis pursuant to law or regulation of such 

9 State, political subdivision, or Indian Tribe that 

10 has jurisdiction over the Indian country. 

11 ‘‘(B) DEFINITIONS.—For purposes of this 

12 paragraph: 

13 ‘‘(i) CANNABIS.—The term ‘cannabis’ 

14 has the meaning given the term ‘mari15 huana’ in section 102 of the Controlled Sub16 stances Act (21 U.S.C. 802). 

17 ‘‘(ii) CANNABIS-RELATED LEGITIMATE

18 BUSINESS.—The term ‘cannabis-related le19 gitimate business’ has the meaning given 

20 that term in section 11 of the SAFE Bank21 ing Act of 2019. 

22 ‘‘(iii) INDIAN COUNTRY.—The term 

23 ‘Indian country’ has the meaning given 

24 that term in section 1151 of title 18. 


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1 ‘‘(iv) INDIAN TRIBE.—The term ‘In2 dian Tribe’ has the meaning given that 

3 term in section 102 of the Federally Recog4 nized Indian Tribe List Act of 1994 (25 

5 U.S.C. 479a). 

6 ‘‘(v) FINANCIAL SERVICE.—The term 

7 ‘financial service’ has the meaning given 

8 that term in section 11 of the SAFE Bank9 ing Act of 2019. 

10 ‘‘(vi) SERVICE PROVIDER.—The term 

11 ‘service provider’ has the meaning given 

12 that term in section 11 of the SAFE Bank13 ing Act of 2019. 

14 ‘‘(vii) STATE.—The term ‘State’ means 

15 each of the several States, the District of Co16 lumbia, Puerto Rico, and any territory or 

17 possession of the United States.’’. 

18 SEC. 7. GUIDANCE AND EXAMINATION PROCEDURES. 

19 Not later than 180 days after the date of enactment 

20 of this Act, the Financial Institutions Examination Council 

21 shall develop uniform guidance and examination proce22 dures for depository institutions that provide financial 

23 services to cannabis-related legitimate businesses and serv24 ice providers. 


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1 SEC. 8. ANNUAL DIVERSITY AND INCLUSION REPORT. 

2 The Federal banking regulators shall issue an annual 

3 report to Congress containing— 

4 (1) information and data on the availability of 

5 access to financial services for minority-owned and 

6 women-owned cannabis-related legitimate businesses; 

7 and 

8 (2) any regulatory or legislative recommenda9 tions for expanding access to financial services for 

10 minority-owned and women-owned cannabis-related 

11 legitimate businesses. 

12 SEC. 9. GAO STUDY ON DIVERSITY AND INCLUSION. 

13 (a) STUDY.—The Comptroller General of the United 

14 States shall carry out a study on the barriers to market15 place entry, including in the licensing process, and the ac16 cess to financial services for potential and existing minor17 ity-owned and women-owned cannabis-related legitimate 

18 businesses. 

19 (b) REPORT.—The Comptroller General shall issue a 

20 report to the Congress— 

21 (1) containing all findings and determinations 

22 made in carrying out the study required under sub23 section (a); and 

24 (2) containing any regulatory or legislative rec25 ommendations for removing barriers to marketplace 

26 entry, including in the licensing process, and expandVerDate Sep 11 2014 20:20 Jun 05, 2019 Jkt 089200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6203 E:\BILLS\H1595.RH H1595

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1 ing access to financial services for potential and exist2 ing minority-owned and women-owned cannabis-re3 lated legitimate businesses. 

4 SEC. 10. GAO STUDY ON EFFECTIVENESS OF CERTAIN RE5 PORTS ON FINDING CERTAIN PERSONS. 

6 Not later than 2 years after the date of the enactment 

7 of this Act, the Comptroller General of the United States 

8 shall carry out a study on the effectiveness of reports on 

9 suspicious transactions filed pursuant to section 5318(g) of 

10 title 31, United States Code, at finding individuals or orga11 nizations suspected or known to be engaged with 

12 transnational criminal organizations and whether any such 

13 engagement exists in a State, political subdivision, or In14 dian Tribe that has jurisdiction over Indian country that 

15 allows the cultivation, production, manufacture, sale, trans16 portation, display, dispensing, distribution, or purchase of 

17 cannabis. The study shall examine reports on suspicious 

18 transactions as follows: 

19 (1) During the period of 2014 until the date of 

20 the enactment of this Act, reports relating to mari21 juana-related businesses. 

22 (2) During the 1-year period after date of the en23 actment of this Act, reports relating to cannabis-re24 lated legitimate businesses. 


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1 SEC. 11. DEFINITIONS. 

2 In this Act: 

3 (1) BUSINESS OF INSURANCE.—The term ‘‘busi4 ness of insurance’’ has the meaning given such term 

5 in section 1002 of the Dodd-Frank Wall Street Re6 form and Consumer Protection Act (12 U.S.C. 5481). 

7 (2) CANNABIS.—The term ‘‘cannabis’’ has the 

8 meaning given the term ‘‘marihuana’’ in section 102 

9 of the Controlled Substances Act (21 U.S.C. 802). 

10 (3) CANNABIS PRODUCT.—The term ‘‘cannabis 

11 product’’ means any article which contains cannabis, 

12 including an article which is a concentrate, an edible, 

13 a tincture, a cannabis-infused product, or a topical. 

14 (4) CANNABIS-RELATED LEGITIMATE BUSI15 NESS.—The term ‘‘cannabis-related legitimate busi16 ness’’ means a manufacturer, producer, or any person 

17 or company that— 

18 (A) engages in any activity described in 

19 subparagraph (B) pursuant to a law established 

20 by a State or a political subdivision of a State, 

21 as determined by such State or political subdivi22 sion; and 

23 (B) participates in any business or orga24 nized activity that involves handling cannabis or 

25 cannabis products, including cultivating, pro26 ducing, manufacturing, selling, transporting, 


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1 displaying, dispensing, distributing, or pur2 chasing cannabis or cannabis products. 

3 (5) DEPOSITORY INSTITUTION.—The term ‘‘de4 pository institution’’ means— 

5 (A) a depository institution as defined in 

6 section 3(c) of the Federal Deposit Insurance Act 

7 (12 U.S.C. 1813(c)); 

8 (B) a Federal credit union as defined in 

9 section 101 of the Federal Credit Union Act (12 

10 U.S.C. 1752); or 

11 (C) a State credit union as defined in sec12 tion 101 of the Federal Credit Union Act (12 

13 U.S.C. 1752). 

14 (6) FEDERAL BANKING REGULATOR.—The term 

15 ‘‘Federal banking regulator’’ means each of the Board 

16 of Governors of the Federal Reserve System, the Bu17 reau of Consumer Financial Protection, the Federal 

18 Deposit Insurance Corporation, the Financial Crimes 

19 Enforcement Network, the Office of Foreign Asset 

20 Control, the Office of the Comptroller of the Currency, 

21 the National Credit Union Administration, the De22 partment of the Treasury, or any Federal agency or 

23 department that regulates banking or financial serv24 ices, as determined by the Secretary of the Treasury. 


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1 (7) FINANCIAL SERVICE.—The term ‘‘financial 

2 service’’— 

3 (A) means a financial product or service, as 

4 defined in section 1002 of the Dodd-Frank Wall 

5 Street Reform and Consumer Protection Act (12 

6 U.S.C. 5481); 

7 (B) includes the business of insurance; 

8 (C) includes, whether performed directly or 

9 indirectly, the authorizing, processing, clearing, 

10 settling, billing, transferring for deposit, trans11 mitting, delivering, instructing to be delivered, 

12 reconciling, collecting, or otherwise effectuating 

13 or facilitating of payments or funds, where such 

14 payments or funds are made or transferred by 

15 any means, including by the use of credit cards, 

16 debit cards, other payment cards, or other access 

17 devices, accounts, original or substitute checks, or 

18 electronic funds transfers; 

19 (D) includes acting as a money transmit20 ting business which directly or indirectly makes 

21 use of a depository institution in connection 

22 with effectuating or facilitating a payment for a 

23 cannabis-related legitimate business or service 

24 provider in compliance with section 5330 of title 


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1 31, United States Code, and any applicable 

2 State law; and 

3 (E) includes acting as an armored car serv4 ice for processing and depositing with a deposi5 tory institution or the Board of Governors of the 

6 Federal Reserve System with respect to any 

7 monetary instruments (as defined under section 

8 1956(c)(5) of title 18, United States Code. 

9 (8) INDIAN COUNTRY.—The term ‘‘Indian coun10 try’’ has the meaning given that term in section 1151 

11 of title 18. 

12 (9) INDIAN TRIBE.—The term ‘‘Indian Tribe’’ 

13 has the meaning given that term in section 102 of the 

14 Federally Recognized Indian Tribe List Act of 1994 

15 (25 U.S.C. 479a). 

16 (10) INSURER.—The term ‘‘insurer’’ has the 

17 meaning given that term under section 313(r) of title 

18 31, United States Code. 

19 (11) MANUFACTURER.—The term ‘‘manufac20 turer’’ means a person who manufactures, compounds, 

21 converts, processes, prepares, or packages cannabis or 

22 cannabis products. 

23 (12) PRODUCER.—The term ‘‘producer’’ means a 

24 person who plants, cultivates, harvests, or in any way 

25 facilitates the natural growth of cannabis. 


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1 (13) SERVICE PROVIDER.—The term ‘‘service 

2 provider’’— 

3 (A) means a business, organization, or other 

4 person that— 

5 (i) sells goods or services to a cannabis6 related legitimate business; or 

7 (ii) provides any business services, in8 cluding the sale or lease of real or any other 

9 property, legal or other licensed services, or 

10 any other ancillary service, relating to can11 nabis; and 

12 (B) does not include a business, organiza13 tion, or other person that participates in any 

14 business or organized activity that involves han15 dling cannabis or cannabis products, including 

16 cultivating, producing, manufacturing, selling, 

17 transporting, displaying, dispensing, distrib18 uting, or purchasing cannabis or cannabis prod19 ucts. 

20 (14) STATE.—The term ‘‘State’’ means each of 

21 the several States, the District of Columbia, Puerto 

22 Rico, and any territory or possession of the United 

23 States. 


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Union Calendar No. 78 

116TH CONGRESS 

1ST SESSION H. R. 1595 

[Report No. 116–104, Part I] 

A BILL 

To create protections for depository institutions 

such businesses, and for other purposes. legitimate businesses and service providers for that provide financial services to cannabis-related 

JUNE 5, 2019 

Reported from the Committee on Financial Services with 

J

an amendment 

UNE 5, 2019 

Committee on the Judiciary discharged; committed to the 

Union and ordered to be printed Committee of the Whole House on the State of the 


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