CSAC Bulletin Article

AENR Bill Updates

January 9, 2020

The Legislature is back in session and has begun taking up two-year bills. Measures that didn’t clear their house of origin last year must do so by the end of the month. CSAC recently submitted a support letter on AB 1525 which is set to be heard in Assembly Business & Profession Committee on Tuesday January 14th.

AB 1525 (Jones-Sawyer): This bill would help facilitate banking services to commercial cannabis operators. The bill, as recently amended, allows a licensing authority or the California Cannabis Authority to share application, license, and other regulatory or financial information with a financial institution upon request and permission of a commercial cannabis operator. The California Cannabis Authority (CCA) is a county-formed Joint Powers Authority (JPA) that manages a statewide cannabis data platform, aggregating and analyzing critical regulatory information for local cannabis regulators. AB 1525 would help provide California’s commercial cannabis operators a pathway to legitimate financial services, working within our existing financial system, and ease burdens for cannabis businesses in order to reduce the appeal of an underground and unregulated cannabis economy.

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