Ensuring Safe Capital Access for All Small Businesses Act of 2021
Bill: H.R.2712 | Sponsor: Rep. Velazquez, Nydia M. (D-NY)
Policy area: Commerce

Summary:
Ensuring Safe Capital Access for All Small Businesses Act of 2021
This bill removes cannabis from the schedule of controlled substances, and it prohibits the Small Business Administration from declining to provide certain small business financing to an eligible entity solely because it is a cannabis-related legitimate business or service provider.

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.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Ensuring Safe Capital Access for All 
Small Businesses Act of 2021''.

SEC. 2. DECRIMINALIZATION OF CANNABIS.

    (a) Cannabis Removed From Schedule of Controlled Substances.--
Subsection (c) of schedule I of section 202(c) of the Controlled 
Substances Act (21 U.S.C. 812) is amended--
            (1) by striking paragraph (10) (relating to marihuana); and
            (2) by striking paragraph (17) (relating to 
        terahydrocannabinols).
    (b) Conforming Amendments to Controlled Substances Act.--The 
Controlled Substances Act (21 U.S.C. 801 et seq.) is amended--
            (1) in section 102(44) (21 U.S.C. 802(44)), by striking 
        ``marihuana,'';
            (2) in section 401(b) (21 U.S.C. 841(b))--
                    (A) in paragraph (1)--
                            (i) in subparagraph (A)--
                                    (I) in clause (vi), by inserting 
                                ``or'' after the semicolon;
                                    (II) by striking (vii); and
                                    (III) by redesignating clause 
                                (viii) as clause (vii);
                            (ii) in subparagraph (B)--
                                    (I) in clause (vi), by inserting 
                                ``or'' after the semicolon;
                                    (II) by striking clause (vii); and
                                    (III) by redesignating clause 
                                (viii) as clause (vii);
                            (iii) in subparagraph (C), in the first 
                        sentence, by striking ``subparagraphs (A), (B), 
                        and (D)'' and inserting ``subparagraphs (A) and 
                        (B)'';
                            (iv) by striking subparagraph (D);
                            (v) by redesignating subparagraph (E) as 
                        subparagraph (D); and
                            (vi) in subparagraph (D)(i), as so 
                        redesignated, by striking ``subparagraphs (C) 
                        and (D)'' and inserting ``subparagraph (C)'';
                    (B) by striking paragraph (4); and
                    (C) by redesignating paragraphs (5), (6), and (7) 
                as paragraphs (4), (5), and (6), respectively;
            (3) in section 402(c)(2)(B) (21 U.S.C. 842(c)(2)(B)), by 
        striking ``marihuana,'';
            (4) in section 403(d)(1) (21 U.S.C. 843(d)(1)), by striking 
        ``marihuana,'';
            (5) in section 418(a) (21 U.S.C. 859(a)), by striking the 
        last sentence;
            (6) in section 419(a) (21 U.S.C. 860(a)), by striking the 
        last sentence;
            (7) in section 422(d) (21 U.S.C. 863(d))--
                    (A) in the matter preceding paragraph (1), by 
                striking ``marijuana,''; and
                    (B) in paragraph (5), by striking ``, such as a 
                marihuana cigarette,''; and
            (8) in section 516(d) (21 U.S.C. 886(d)), by striking 
        ``section 401(b)(6)'' each place the term appears and inserting 
        ``section 401(b)(5)''.
    (c) Other Conforming Amendments.--
            (1) National forest system drug control act of 1986.--The 
        National Forest System Drug Control Act of 1986 (16 U.S.C. 559b 
        et seq.) is amended--
                    (A) in section 15002(a) (16 U.S.C. 559b(a)) by 
                striking ``marijuana and other'';
                    (B) in section 15003(2) (16 U.S.C. 559c(2)) by 
                striking ``marijuana and other''; and
                    (C) in section 15004(2) (16 U.S.C. 559d(2)) by 
                striking ``marijuana and other''.
            (2) Interception of communications.--Section 2516 of title 
        18, United States Code, is amended--
                    (A) in subsection (1)(e), by striking ``, 
                marihuana,''; and
                    (B) in subsection (2) by striking ``marihuana''.

SEC. 3. 7(A) LOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND 
              SERVICE PROVIDERS.

    Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is 
amended by adding at the end the following new paragraph:
            ``(38) Loans to cannabis-related legitimate businesses and 
        service providers.--
                    ``(A) In general.--The Administrator may not 
                decline to provide a guarantee for a loan under this 
                subsection, and a lender may not decline to make a loan 
                made under this subsection, to an otherwise eligible 
                small business concern solely because such concern is a 
                cannabis-related legitimate business or service 
                provider.
                    ``(B) Definitions.--In this paragraph:
                            ``(i) Cannabis.--The term `cannabis' has 
                        the meaning given the term `marihuana' in 
                        section 102 of the Controlled Substances Act.
                            ``(ii) Cannabis product.--The term 
                        `cannabis product' means any article which 
                        contains cannabis, including an article which 
                        is a concentrate, an edible, a tincture, a 
                        cannabis-infused product, or a topical.
                            ``(iii) Cannabis-related legitimate 
                        business.--The term `cannabis-related 
                        legitimate business' means a manufacturer, 
                        producer, or any person or company that is a 
                        small business concern and that--
                                    ``(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 such 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' means a person who manufactures, 
                        compounds, converts, processes, prepares, or 
                        packages cannabis or cannabis products.
                            ``(v) Producer.--The term `producer' means 
                        a person who plants, cultivates, harvests, or 
                        in any way facilitates the natural growth of 
                        cannabis.
                            ``(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' means each 
                        of the several States, the District of 
                        Columbia, Puerto Rico, and any territory or 
                        possession of the United States.''.

SEC. 4. DISASTER LOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND 
              SERVICE PROVIDERS.

    Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is 
amended by inserting after paragraph (15) the following new paragraph:
            ``(16) Assistance to cannabis-related legitimate businesses 
        and service providers.--The Administrator may not decline to 
        provide assistance under this subsection to an otherwise 
        eligible borrower solely because such borrower is a cannabis-
        related legitimate business or service provider (as defined in 
        subsection (a)(38)).''.

SEC. 5. MICROLOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND 
              SERVICE PROVIDERS.

    Section 7(m) of the Small Business Act (15 U.S.C. 636(m)(13)) is 
amended by adding at the end the following new paragraph:
            ``(14) Assistance to cannabis-related legitimate businesses 
        and service providers.--The Administrator may not decline to 
        make a loan or a grant under this subsection, and an eligible 
        intermediary may not decline to provide assistance under this 
        subsection to an otherwise eligible borrower, eligible 
        intermediary, or eligible nonprofit entity (as applicable) 
        solely because such borrower, intermediary, or nonprofit entity 
        is a cannabis-related legitimate business or service provider 
        (as defined in subsection (a)(38)).''.

SEC. 6. 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.) is amended by adding at the end the following 
new section:

``SEC. 321. DEBENTURES TO FINANCE CANNABIS-RELATED LEGITIMATE 
              BUSINESSES AND SERVICE PROVIDERS.

    ``(a) Guarantees.--The Administrator may not decline to purchase or 
guarantee a debenture made under this title to an otherwise eligible 
small business investment company solely because such small business 
investment company provides financing to an entity that is a cannabis-
related legitimate business or service provider (as defined in section 
7(a)(38) of the Small Business Act).
    ``(b) Other Assistance.--A small business investment company may 
not decline to provide assistance under this title to an otherwise 
eligible small business concern solely because such small business 
concern is a cannabis-related legitimate business or service provider 
(as defined in section 7(a)(38) of the Small Business Act).''.

SEC. 7. 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.) is amended by adding at the end the following new section:

``SEC. 511. LOANS TO FINANCE CANNABIS-RELATED LEGITIMATE BUSINESSES AND 
              SERVICE PROVIDERS.

    ``(a) Loans and Loan Guarantees.--The Administrator may not decline 
to make or provide a guarantee for a loan under this title to an 
otherwise eligible qualified State or local development company solely 
because such qualified State or local development company provides 
financing to an entity that is a cannabis-related legitimate business 
or service provider (as defined in section 7(a)(38) of the Small 
Business Act).
    ``(b) Other Assistance.--A qualified State or local development 
company may not decline to provide assistance under this title to an 
otherwise eligible small business concern solely because such small 
business concern is a cannabis-related legitimate business or service 
provider (as defined in section 7(a)(38) of the Small Business Act).''.

SEC. 8. RULEMAKING.

    Not later than 120 days after the date of the enactment of this 
Act, the Administrator of the Small Business Administration shall issue 
or amend any rules, standard operating procedures, other legal or 
policy guidance necessary to carry out the requirements of this Act and 
the amendments made by this Act.
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