Marijuana Businesses Access to Banking Act of 2013 - Prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance of a depository institution solely because it either provides or has provided financial services to a marijuana-related legitimate business; or (2) prohibiting, penalizing, or otherwise discouraging a depository institution from providing financial services to a marijuana-related legitimate business.
Prohibits a federal banking regulator, in addition, from recommending, motivating, providing incentives, or encouraging a depository institution not to offer financial services to an individual, or to downgrade or cancel financial services offered to an individual, solely because the individual: (1) is or later becomes a manufacturer, producer, owner or operator of a marijuana-related legitimate business; or (2) the depository institution was not aware that the individual is the owner or operator of a marijuana-related legitimate business.
Prohibits a federal banking regulator from taking any action on a loan to an owner or operator of: (1) a marijuana-related legitimate business, or (2) real estate or equipment that is leased to a marijuana-related legitimate business.
Grants immunity from federal criminal prosecution or investigation to a depository institution providing financial services to a marijuana-related legitimate business.
Prohibits the Secretary of the Treasury from requiring a depository institution, and any director, officer, employee, or agent of a depository institution, to report a transaction as suspicious solely because a party to the transaction is a marijuana-related legitimate business.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2652 Introduced in House (IH)]
113th CONGRESS
1st Session
H. R. 2652
To create protections for depository institutions that provide
financial services to marijuana-related businesses.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 10, 2013
Mr. Perlmutter (for himself, Mr. Heck of Washington, Mr. McDermott, Mr.
Blumenauer, Mr. Polis, Mr. Smith of Washington, Mr. Farr, Mr. Kilmer,
Mr. Moran, Ms. Norton, Mr. Capuano, Ms. DelBene, Mr. Coffman, Ms.
DeGette, Mr. DeFazio, Mr. Lowenthal, Ms. Pingree of Maine, Mr.
Rohrabacher, and Ms. Schakowsky) introduced the following bill; which
was referred to the Committee on Financial Services, and in addition to
the Committee on the Judiciary, for a period to be subsequently
determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To create protections for depository institutions that provide
financial services to marijuana-related businesses.
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 ``Marijuana Businesses Access to
Banking Act of 2013''.
SEC. 2. SAFE HARBOR FOR DEPOSITORY INSTITUTIONS.
A Federal banking regulator may not--
(1) terminate or limit the deposit insurance of a
depository institution under the Federal Deposit
Insurance Act (12 U.S.C. 1811 et seq.) solely because
the depository institution provides or has provided
financial services to a marijuana-related legitimate
business;
(2) prohibit, penalize, or otherwise discourage a
depository institution from providing financial
services to a marijuana-related legitimate business;
(3) recommend, incentivize, or encourage a
depository institution not to offer financial services
to an individual, or to downgrade or cancel the
financial services offered to an individual solely
because--
(A) the individual is a manufacturer or
producer, or is the owner or operator of a
marijuana-related legitimate business;
(B) the individual later becomes an owner
or operator of a marijuana-related legitimate
business; or
(C) the depository institution was not
aware that the individual is the owner or
operator of a marijuana-related legitimate
business; and
(4) take any action on a loan to an owner or
operator of--
(A) a marijuana-related legitimate
business; or
(B) real estate or equipment that is leased
to a marijuana-related legitimate business.
SEC. 3. PROTECTIONS UNDER FEDERAL LAW.
(a) Investigation and Prosecution.--A depository institution that
provides financial services to a marijuana-related legitimate business,
and the officers, directors, and employees of that depository
institution, shall be immune from Federal criminal prosecution or
investigation for providing those services.
(b) Federal Criminal Law.--A depository institution that provides
financial services to a marijuana-related legitimate business may not
be held liable pursuant to any Federal criminal law solely for
providing those services or for further investing any income derived
from such services.
(c) 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 business, or to an owner or operator of
real estate or equipment that is leased to a marijuana-related
legitimate business, shall not be subject to criminal, civil, or
administrative forfeiture of that legal interest pursuant to any
Federal law for providing such loan.
SEC. 4. RULE OF CONSTRUCTION.
Nothing in this Act shall require a depository institution to
provide financial services to a marijuana-related legitimate business.
SEC. 5. EXEMPTION FROM FILING SUSPICIOUS ACTIVITY REPORTS.
Section 5318(g) of title 31, United States Code, is amended by
adding at the end the following:
``(5) Exemption for marijuana-related legitimate
businesses.--
``(A) In general.--The Secretary shall not require
a depository institution, and any director, officer,
employee, or agent of a depository institution, to
report a transaction as suspicious solely because a
party to the transaction is a marijuana-related
legitimate business.
``(B) Definitions.--In this paragraph, the terms
`depository institution' and `marijuana-related
legitimate business' have the meanings given such terms
in the Marijuana Businesses Access to Banking Act of
2013.''.
SEC. 6. DEFINITIONS.
In this Act:
(1) Depository institution.--The term ``depository
institution'' means--
(A) a depository institution as defined in section
3(c) of the Federal Deposit Insurance Act (12 U.S.C.
1813(c));
(B) a Federal credit union as defined in section
101 of the Federal Credit Union Act (12 U.S.C. 1752);
or
(C) a State credit union as defined in section 101
of the Federal Credit Union Act (12 U.S.C. 1752).
(2) Federal banking regulator.--The term ``Federal banking
regulator'' means each of the Board of Governors of the Federal
Reserve System, the Bureau of Consumer Financial Protection,
the Federal Deposit Insurance Corporation, the Office of the
Comptroller of the Currency, the National Credit Union
Administration, or any agency or department that regulates
banking or financial services, as determined by the Secretary
of the Treasury.
(3) Financial service.--The term ``financial service''
means a financial product or service as defined in section 1002
of the Dodd-Frank Wall Street Reform and Consumer Protection
Act (12 U.S.C. 5481).
(4) Manufacturer.--The term ``manufacturer'' means a person
who manufactures, compounds, converts, processes, prepares, or
packages marijuana or marijuana products.
(5) Marijuana-related legitimate business.--The term
``marijuana-related legitimate business'' means a manufacturer,
producer, or any person that--
(A) participates in any business or organized
activity that involves handling marijuana or marijuana
products, including selling, transporting, displaying,
dispensing, or distributing marijuana or marijuana
products; and
(B) engages in such activity pursuant to a law
established by a State or a unit of local government.
(6) Marijuana.--The term ``marijuana'' has the meaning
given the term ``marihuana'' in section 102 of the Controlled
Substances Act (21 U.S.C. 802).
(7) Marijuana product.--The term ``marijuana product''
means any article which contains marijuana, including an
article which is a concentrate, an edible, a tincture, a
marijuana-infused product, or a topical.
(8) Producer.--The term ``producer'' means a person who
plants, cultivates, harvests, or in any way facilitates the
natural growth of marijuana.
(9) 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.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
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