,,ii #aadth ,,congress #ast ,session ,s4 #agbf ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #i1 #bjae,mr4 ,merkley 7for himself1 ,mr4 ,gardner1 ,mr4 ,bennet1 ,mr4 ,paul1 ,mr4 ,wyden1 and ,mrs4 ,murray7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to create protections for depository institutions that provide financial services to marijuana-related businesses1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,marijuana ,businesses ,access to ,banking ,act of #bjae4 #b4 ,safe harbor for depository institutions ,a ,federal banking regulator may not-- 7#a7 terminate or limit the deposit insurance or share insurance of a depository institution under the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq47 or the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #agea et seq47 solely because the depository institution provides or has provided financial services to a marijuana-related legitimate business2 7#b7 prohibit1 penalize1 or otherwise discourage a depository institution from providing financial services to a marijuana-related legitimate business2 7#c7 recommend1 incentivize1 or encourage a depository institution not to offer financial services to an individual1 or to downgrade or cancel the financial services offered to an individual solely because-- 7,a7 the individual is a manufacturer or producer1 or is the owner or operator of a marijuana-related legitimate business2 7,b7 the individual later becomes an owner or operator of a marijuana-related legitimate business2 or 7,c7 the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business2 and 7#d7 take any adverse or corrective supervisory action on a loan to an owner or operator of-- 7,a7 a marijuana-related legitimate business solely because the business owner or operator is a marijuana-related business2 or 7,b7 real estate or equipment that is leased to a marijuana-related legitimate business solely because the owner or operator of the real estate or equipment leased the equipment or real estate to a marijuana-related legitimate business4 #c4 ,protections under ,federal law 7a7 ,in general ,in a ,state or political subdivision that allows the cultivation1 production1 manufacturing1 transportation1 display1 dispensing1 distribution1 sale1 or purchase of marijuana pursuant to a law 7including regulations7 of the ,state or political subdivision1 a depository institution and the officers1 director1 and employees of the depository institution that provides financial services to a marijuana-related legitimate business may not be held liable pursuant to any ,federal law 7including regulations7-- 7#a7 solely for providing the financial services pursuant to the law 7including regulations7 of the ,state or political subdivision2 or 7#b7 for further investing any income derived from the financial services4 7b7 ,forfeiture ,a depository institution that has a legal interest in the collateral for a loan made to an owner or operator of a marijuana-related legitimate business1 or to an owner or operator of real estate or equipment that is leased to a marijuana-related legitimate business1 shall not be subject to criminal1 civil1 or administrative forfeiture of that legal interest pursuant to any ,federal law for providing the loan4 #d4 ,rule of construction ,nothing in this ,act shall require a depository institution to provide financial services to a marijuana-related legitimate business4 #e4 ,requirements for filing suspicious activity reports ,section #ecah7;g7 of title #ca1 ,united ,states ,code1 is amended by adding at the end the following3 7#e7 ,requirements for marijuana-related businesses ,a financial institution or any director1 officer1 employee1 or agent of a financial institution that reports a suspicious transaction pursuant to a marijuana-related legitimate business 7as defined in section #f of the ,marijuana ,businesses ,access to ,banking ,act of #bjae7 shall comply with appropriate guidance issued by the ,financial ,crimes ,enforcement ,network4 ,the ,secretary shall ensure that the guidance is consistent with the purpose and intent of the ,marijuana ,businesses ,access to ,banking ,act of #bjae and does not inhibit the provision of financial services to a marijuana-related legitimate business in a ,state or political subdivision of a ,state that has allowed the cultivation1 production1 manufacturing1 transportation1 display1 dispensing1 distribution1 sale1 or purchase of marijuana pursuant to law or regulation of the ,state or political subdivision4 4 #f4 ,definitions ,in this ,act3 7#a7 ,depository institution ,the term depository institution means-- 7,a7 a depository institution as defined in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c772 7,b7 a ,federal credit union as defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb72 or 7,c7 a ,state credit union as defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb74 7#b7 ,federal banking regulator ,the term ,federal banking regulator means each of the ,board of ,governors of the ,federal ,reserve ,system1 the ,bureau of ,consumer ,financial ,protection1 the ,federal ,deposit ,insurance ,corporation1 the ,office of the ,comptroller of the ,currency1 the ,national ,credit ,union ,administration1 or any ,federal agency or department that regulates banking or financial services1 as determined by the ,secretary of the ,treasury4 7#c7 ,financial service ,the term financial service means a financial product or service as defined in section #ajjb of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #edha74 7#d7 ,manufacturer ,the term manufacturer means a person who manufactures1 compounds1 converts1 processes1 prepares1 or packages marijuana or marijuana products4 7#e7 ,marijuana-related legitimate business ,the term marijuana-related legitimate business means a manufacturer1 producer1 or any person that-- 7,a7 participates in any business or organized activity that involves handling marijuana or marijuana products1 including cultivating1 producing1 manufacturing1 selling1 transporting1 displaying1 dispensing1 distributing1 or purchasing marijuana or marijuana products2 and 7,b7 engages in such activity pursuant to a law established by a ,state or a political subdivision of a ,state4 7#f7 ,marijuana ,the term marijuana has the meaning given the term marihuana in section #ajb of the ,controlled ,substances ,act 7#ba ,u4,s4,c4 #hjb74 7#g7 ,marijuana product ,the term marijuana product means any article which contains marijuana1 including an article which is a concentrate1 an edible1 a tincture1 a marijuana-infused product1 or a topical4 7#h7 ,producer ,the term producer means a person who plants1 cultivates1 harvests1 or in any way facilitates the natural growth of marijuana4 7#i7 ,state ,the term ,state means each of the several ,states1 the ,district of ,columbia1 ,puerto ,rico1 and any territory or possession of the ,united ,states4