,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #hbjj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #bc1 #bjbb ,mr4 
,c>t] ( ,l\isiana 7= himself & ,mr4     
,res*5?al]7 introduc$ ! foll[+ bill2 :i*
 0 ref]r$ to ! ,committee on ,f9ancial  
,s]vices  ,a ,,bill  ,to am5d any       
applicable ,f$]al law to p]mit access to
 community developm5t1 small bus9ess1   
m9ority developm5t1 & any o!r public or 
private f9ancial capital s\rces =       
inve/m5t 9 & f9anc+ ( cannabis-relat$   
legitimate bus9esses1 & to am5d !       
,securities ,ex*ange ,act ( #aicd to    
create a safe h>bor = national          
securities ex*anges to li/ ! securities 
( issu]s t are cannabis-relat$          
legitimate bus9esses4  #a4 ,%ort title  
,?is ,act may be cit$ z ! ,capital ,l5d+
 & ,inve/m5t = ,m>ijuana ,bus9esses ,act
 or ! ,,climb ,act4  #b4 ,p]mitt+ access
 to community developm5t1 small bus9ess1
 m9ority developm5t1 & f9ancial         
in/itution capital = inve/m5t 9 & f9anc+
 ( cannabis-relat$ legitimate bus9esses 

& _! s]vice provid]s  7a7 ,proscription 
,aga9/ ,f$]al ,ag5cy ,action ,no ag5cy (
 ! ,f$]al ,gov]nm5t %all--  7#a7        
initiate or o!rwise support br++ civil1 
crim9al1 regulatory or adm9i/rative     
actions t w\ld disqualify any bus9ess   
p]son or gov]nm5tal au?ority f hold+ or 
obta9+ any *>t]1 lic5se1 regi/ration1 or
 (ficial /atus1 f ma9ta9+1 apply+ = or  
receiv+ fund+1 appropriations1 grants1  
contracts1 or o!r =ms ( monet>y or      
non-monet>y assi/ance f a gov]nm5tal    
au?ority1 or f m>ket+1 (f]+1 or sell+   
any security1 bank+1 or insurance or o!r
 f9ancial s]vices product1 because su*  
bus9ess or p]son-- 7,a7 provides bus9ess
 assi/ance to a cannabis-relat$         
legitimate bus9ess or s]vice provid]2 or
  7,b7 receives ca% or o!r comp5sation =
 provid+ bus9ess assi/ance to a         
cannabis-relat$ legitimate bus9ess or   
s]vice provid] :i* ca% or o!r           
comp5sation is g5]at$ f or is proce$s ( 
! bus9ess op]ations ( a cannabis-relat$ 
legitimate bus9ess or s]vice provid]4   

7b7 ,def9itions  7#a7 ,bus9ess assi/ance
 ,! t]m bus9ess assi/ance means--  7,a7 
provision ( f9ancial s]vices includ+ b n
 by way ( limitation1 comm]cial bank+1  
deposit-tak+1 tru/ s]vices1 capital     
rais+1 l5d+1 brok]age1 prime brok]age1  
securities f9ance s]vices1 inve/m5t     
bank+1 cu/ody s]vices1 cr$it c>d        
s]vices1 money transf] s]vices1         
securities und]writ+ & inve/m5t advisory
 s]vices2  7,b7 sale ( insurance or     
surety products2  7,c7 provid+ debt or  
equity capital & ! receipt ( divid5ds1  
int]e/1 or di/ributions ( t capital2    
7,d7 provision or acc\nt+ s]vices2  7,e7
 sale1 leas+1 or r5t+ ( real e/ate2     
7,f7 provision ( equipm5t1 p>ts1        
sub/ances or te/+ s]vices ne$$ to       
produce m>ijuana1 hemp or extracts      
!refrom & to comply ) ! law1 rules &    
regulations = te/+ 9 ! applicable ,u4,s4
 ,/ate1 commonweal?1 ,wa%+ton1 ,,dc1    
,indian ,tribe1 or ,u4,s4 ,t]ritory2    
7,g7 provision ( adv]tis+ or m>ket+     
s]vices2  7,h7 provision ( managem5t    

consult+ s]vices2  7,i7 provision (     
legal s]vices or compliance s]vices2    
7,j7 provision ( in=mation te*nology1   
s(tw>e & communications s]vices2  7,k7  
provision ( packag+1 transportation1 or 
o!r logi/ics s]vices2 &  7,l7 und]writ+1
 deal+1 placem5t or public di/ribution (
 securities issu$ by a cannabis-relat$  
legitimate bus9ess1 includ+ ! li/+ ( any
 su* securities on any ex*ange or trad+ 
v5ue1 or any provision ( s]vices relat$ 
to ! =ego+4  7#b7 ,gov]nm5tal au?ority  
,! t]m gov]nm5tal au?ority means any    
,f$]al1 ,/ate1 municipal1 national1     
local1 tribal1 or o!r gov]nm5tal        
dep>tm5t1 c\rt1 commission1 bo>d1       
bureau1 ag5cy1 or in/rum5tality or      
political subdivision !re(1 or any      
entity or (fic] ex]cis+ executive1      
legislative1 or judicial1 regulatory or 
adm9is-trative functions ( or p]ta9+ to 
any gov]nm5t or any c\rt1 9 ea* case1   
:e!r ( ! ,unit$ ,/ates or a ,/ate1      
t]ritory or possession !re(1 a =eign    
sov]eign entity or c\ntry or            

jurisdiction or ! ,di/rict ( ,columbia4 
7#c7 ,p]son ,! t]m p]son means an       
individual1 a p>tn]%ip1 a corporation1 a
 limit$ liability company1 a bus9ess    
tru/1 a jo9t /ock company1 a tru/1 an   
un9corporat$ association1 a jo9t v5ture1
 a gov]nm5tal au?ority1 or any o!r      
entity ( :atev] nature4  #c4 ,safe h>bor
 = national securities ex*anges ,section
 #f ( ! ,securities ,ex*ange ,act (     
#aicd 7#ae ,u4,s4,c4 #gh;f7 is am5d$ by 
add+ at ! end ! foll[+3  7m7 ,safe h>bor
 = cannabis-,relat$ legitimate bus9esses
 & s]vice provid]s  7#a7 ,def9itions ,9 
?is subsection--  7,a7 ,cannabis ,! t]m 
cannabis has ! mean+ giv5 ! t]m m>ihuana
 9 section #ajb ( ! ,controll$          
,sub/ances ,act 7#ba ,u4,s4,c4 #hjb74   
7,b7 ,cannabis product ,! t]m cannabis  
product means any article t conta9s     
cannabis1 includ+ an article t is a     
conc5trate1 an edible1 a t9cture1 a     
cannabis-infus$ product1 or a topical4  
7,c7 ,cannabis-relat$ legitimate bus9ess
 ,! t]m cannabis-relat$ legitimate      

bus9ess means an issu] t-- 7i7          
initiates1 engages1 or p>ticipates 9 any
 bus9ess or organiz$ activity t involves
 cannabis or cannabis products1 includ+ 
cultivat+1 w>eh\s+1 produc+1            
manufactur+1 process+1 sell+1           
transport+1 display+1 disp5s+1          
di/ribut+1 or pur*as+ cannabis or       
cannabis products2 &  7ii7 engages 9 !  
activity describ$ 9 clause 7i7 pursuant 
to a law e/abli%$ by a ,/ate or a       
political subdivision ( a ,/ate1 z      
det]m9$ by t ,/ate or political         
subdivision4  7,d7 ,m>ket p>ticipant ,! 
t]m m>ket p>ticipant means any brok]    
deal]1 und]writ]1 cle>+ ag5cy or        
cle>+h\se1 securities depository1 cr$it 
rat+ ag5cy1 alt]native trad+ sy/em1     
inve/m5t advis]1 self-regulatory        
organization1 or transf] ag5t4  7,e7    
,s]vice provid] ,! t]m s]vice provid]   
means-- 7i7 an issu] t--  7,i7 sells or 
o!rwise provides goods or s]vices to a  
cannabis-relat$ legitimate bus9ess2 or  
7,,ii7 provides any bus9ess s]vice      

relat+ to cannabis or cannabis product1 
includ+ )\t limitation--  7aa7 legal1   
compliance1 or acc\nt+ s]vices2  7bb7   
sale1 leas+1 or r5t+ ( real e/ate or    
equipm5t2  7cc7 provision ( p>ts1       
sub/ances1 or te/+ s]vices ne$$ to      
produce m>ijuana1 hemp1 or extracts     
!refrom & to comply ) ! law1 rules1 &   
regulations = te/+ 9 ! applicable ,u4,s4
 ,/ate1 commonweal?1 ,wa%+ton1 ,,dc1    
,indian ,tribe1 or ,u4,s4 ,t]ritory2    
7dd7 adv]tis+ or m>ket+ s]vices2  7ee7  
managem5t consult+ s]vices2  7ff7       
in=mation te*nology1 s(tw>e1 &          
communications s]vices2 &  7gg7 packag+1
 transportation1 or o!r logi/ics        
s]vices2 &  7ii7 is n a cannabis-relat$ 
legitimate bus9ess4  7,f7 ,/ate ,! t]m  
,/ate means ea* ( ! sev]al ,/ates1 !    
,di/rict ( ,columbia1 ! ,commonweal? (  
,pu]to ,rico1 & ea* ( ! t]ritories &    
possessions ( ! ,unit$ ,/ates4  7#b7    
,safe h>bor ,not)/&+ section #cb ( ?is  
,act1 ! ,controll$ ,sub/ances ,act 7#ba 
,u4,s4,c4 #hja et seq471 or any o!r     

,f$]al law1 x %all n be unlawful = a    
national securities ex*ange regi/]$     
pursuant to subsection 7a7 or any m>ket 
p>ticipant to h li/$1 li/1 or int5d to  
li/1 or p]mits ! trad+1 or facilitates !
 (f]+1 li/+1 or trad+ on a national     
securities ex*ange1 ( ! securities ( a  
cannabis-relat$ legitimate bus9ess or a 
s]vice provid]4  4  #d4 ,effective date 
,?is ,act & ! am5dm5t made 9 section #b 
%all take effect #ahj days aft] ! date (
 enactm5t ( ?is ,act4