Fair Access for Cannabis Small Businesses Act
Bill: S.5131 | Sponsor: Sen. Rosen, Jacky (D-NV)
Policy area: Commerce

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.

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 ``Fair Access for Cannabis Small 
Businesses Act''.

SEC. 2. 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:
            ``(38) Loans to cannabis-related legitimate businesses and 
        service providers.--
                    ``(A) Definitions.--In this paragraph:
                            ``(i) Cannabis.--The term `cannabis' has 
                        the meaning given the term `marihuana' in 
                        section 102 of the Controlled Substances Act 
                        (21 U.S.C. 802).
                            ``(ii) Cannabis product.--The term 
                        `cannabis product' means any article that 
                        contains cannabis, including an article that 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 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' 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.
                    ``(B) Loans.--Notwithstanding any provision of the 
                Controlled Substances Act (21 U.S.C. 801 et seq.), 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 the concern is a cannabis-related legitimate 
                business or service provider.''.

SEC. 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)) is 
amended by inserting after paragraph (15) the following:
            ``(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.), the 
        Administrator may not decline to provide assistance under this 
        subsection to an otherwise eligible borrower solely because the 
        borrower is a cannabis-related legitimate business or service 
        provider (as defined in subsection (a)(38)).''.

SEC. 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)) is 
amended by adding at the end the following:
            ``(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.), the 
        Administrator may not prohibit an eligible intermediary from 
        providing assistance under this subsection to an otherwise 
        eligible borrower solely because the borrower is a cannabis-
        related legitimate business or service provider (as defined in 
        subsection (a)(38)).''.

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

``SEC. 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.), the Administrator may not 
decline to purchase or guarantee a debenture issued under this title to 
an otherwise eligible small business investment company solely because 
the small business investment company provides financing to an entity 
that is a cannabis-related legitimate business or service provider (as 
defined in paragraph (38) of section 7(a) of the Small Business Act (15 
U.S.C. 636(a)).
    ``(b) Other Assistance.--Notwithstanding any provision of the 
Controlled Substances Act (21 U.S.C. 801 et seq.), the Administrator 
may not prohibit a small business investment company from providing 
assistance under this title to an otherwise eligible small business 
concern solely because the small business concern is a cannabis-related 
legitimate business or service provider (as defined in paragraph (38) 
of section 7(a) of the Small Business Act (15 U.S.C. 636(a)).''.

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

``SEC. 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.), the Administrator may not 
decline to guarantee a debenture issued under this title for the 
purpose of making 1 or more loans to small business concerns solely 
because the small business concern is a cannabis-related legitimate 
business or service provider (as defined in paragraph (38) of section 
7(a) of the Small Business Act (15 U.S.C. 636(a)).
    ``(b) Other Assistance.--Notwithstanding any provision of the 
Controlled Substances Act (21 U.S.C. 801 et seq.), a qualified State or 
local development company may not decline an application for a loan 
under this title submitted by an otherwise eligible small business 
concern solely because the small business concern is a cannabis-related 
legitimate business or service provider (as defined in paragraph (38) 
of section 7(a) of the Small Business Act (15 U.S.C. 636(a)).''.

SEC. 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)) is amended by adding at the end the 
following:
            ``(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.), a small 
        business development center may not decline to provide services 
        to an otherwise eligible small business concern under this 
        section solely because the small business concern is a 
        cannabis-related legitimate business or service provider (as 
        defined in section 7(a)(38)).''.
    (b) Women's Business Centers.--Section 29 of the Small Business Act 
(15 U.S.C. 656) is amended by adding at the end the following:
    ``(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.), a women's business center may 
not decline to provide services to an otherwise eligible small business 
concern under this section solely because the small business concern is 
a cannabis-related legitimate business or service provider (as defined 
in section 7(a)(38)).''.
    (c) SCORE.--Section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 
637(b)(1)(B)) is amended by adding at the end the following: 
``Notwithstanding any provision of the Controlled Substances Act (21 
U.S.C. 801 et seq.), the head of the SCORE program established under 
this subparagraph may not decline to provide services to an otherwise 
eligible small business concern solely because the concern is a 
cannabis-related legitimate business or service provider (as defined in 
section 7(a)(38)).''.
    (d) Veteran Business Outreach Centers.--Section 32 of the Small 
Business Act (15 U.S.C. 657b) is amended by adding at the end the 
following:
    ``(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.), a Veteran Business Outreach 
Center may not decline to provide services to an otherwise eligible 
small business concern under this section solely because the small 
business concern is a cannabis-related legitimate business or service 
provider (as defined in section 7(a)(38)).''.

SEC. 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.), a provider of financial or technical 
assistance under a program administered or funded by the Small Business 
Administration may not decline to provide such financial or technical 
assistance to an otherwise eligible small business concern (as defined 
in section 3 of the Small Business Act (15 U.S.C. 632)) solely because 
the concern is a cannabis-related legitimate business or service 
provider (as defined in section 7(a)(38) of the Small Business Act (15 
U.S.C. 636(a)(38)).

SEC. 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.
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