Fair Access for Cannabis Small Businesses Act

To ensure that certain loan programs of the Small Business Administration are made available to cannabis-related legitimate businesses and service providers, and for other purposes. 1. Short title This Act may be cited as the Fair Access for Cannabis Small Businesses Act 2. 7 (a) Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) (38) Loans to cannabis-related legitimate businesses and service providers (A) Definitions In this paragraph: (i) Cannabis The term cannabis marihuana 21 U.S.C. 802 (ii) Cannabis product The term cannabis product (iii) Cannabis-related legitimate business The term cannabis-related legitimate business (I) engages in any activity described in subclause (II) pursuant to a law established by a State or a political subdivision of a State, as determined by the State or political subdivision; and (II) participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products. (iv) Manufacturer The term manufacturer (v) Producer The term producer (vi) Service provider The term service provider (I) means a business, organization, or other person that— (aa) sells goods or services to a cannabis-related legitimate business; or (bb) provides any business services, including the sale or lease of real or any other property, legal or other licensed services, or any other ancillary service, relating to cannabis; and (II) does not include a business, organization, or other person that participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products. (vii) State The term State (B) Loans Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . 3. Disaster loans to cannabis-related legitimate businesses and service providers Section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) (16) Assistance to cannabis-related legitimate businesses and service providers Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . 4. Microloans to cannabis-related legitimate businesses and service providers Section 7(m) of the Small Business Act ( 15 U.S.C. 636(m)(13) (14) Assistance to cannabis-related legitimate businesses and service providers Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . 5. Small business investment company debentures to finance cannabis-related legitimate businesses and service providers Part A of title III of the Small Business Investment Act of 1958 ( 15 U.S.C. 681 et seq. 321. Debentures to finance cannabis-related legitimate businesses and service providers (a) Guarantees Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. 15 U.S.C. 636(a) (b) Other assistance Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. 15 U.S.C. 636(a) . 6. State or local development company loans to finance cannabis-related legitimate businesses and service providers Title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. 511. Loans to finance cannabis-related legitimate businesses and service providers (a) Guarantees Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. 15 U.S.C. 636(a) (b) Other assistance Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. 15 U.S.C. 636(a) . 7. Assistance from resource partners for cannabis-related legitimate businesses and service providers (a) Small business development centers Section 21(c) of the Small Business Act ( 15 U.S.C. 648(c) (9) Services for cannabis-related legitimate businesses and service providers Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . (b) Women’s business centers Section 29 of the Small Business Act ( 15 U.S.C. 656 (p) Services for cannabis-Related legitimate businesses and service providers Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . (c) SCORE Section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. (d) Veteran business outreach centers Section 32 of the Small Business Act ( 15 U.S.C. 657b (h) Services for cannabis-Related legitimate businesses and service providers Notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. . 8. Technical assistance providers In addition to the programs covered by the amendments made by this Act, and notwithstanding any provision of the Controlled Substances Act ( 21 U.S.C. 801 et seq. 15 U.S.C. 632 15 U.S.C. 636(a)(38) 9. Rulemaking Not later than 120 days after the date of enactment of this Act, the Administrator of the Small Business Administration shall issue or amend any rules, standard operating procedures, and other legal or policy guidance as necessary to carry out the requirements of this Act and the amendments made by this Act.

Summary: Fair Access for Cannabis Small Businesses Act This bill prohibits the Small Business Administration from declining to provide certain loans or other assistance to an otherwise eligible small business solely because the business is a cannabis-related legitimate business or service provider.