WASHINGTON–The House Judiciary Committee has approved a bill that would decriminalize marijuana at the federal level, an issue on which in various forms credit unions have been lobbying. The Marijuana Opportunity Reinvestment and Expungement Act (MORE) of 2019, passed the committee on a 24-10 vote and now heads to the full House.
The bill would remove marijuana from the list of federally controlled substances and allow states to set their own marijuana policy, while also requiring federal courts to expunge prior convictions for marijuana offenses. A 5% tax on marijuana products would also establish a trust fund for programs designed to help people “disproportionately impacted by the war on drugs,” including job training and treatment for substance abuse.
For credit unions in states where voters have approved marijuana in various forms, the legislation could provide some clarity and reduce risks when serving cannabis-related businesses. Medical marijuana is legal in 33 states and it's legal for recreational use in 11 states, along with the District of Columbia.
‘Matter of Personal Choice’
"For far too long, we have treated marijuana as a criminal justice problem instead of a matter of personal choice and public health. Whatever one's views on the use of marijuana for recreational or medicinal purposes, arresting, prosecuting and incarcerating users at the federal level is unwise and unjust," House Judiciary Committee Chairman Jerry Nadler said in his opening statement.
Even if the bill passes the Democratic-controlled House, its prospects remain difficult in the Republican-controlled Senate.
The Associated Press points out if the measure comes up for a vote in the full House, its chances are better in the Democratic-controlled chamber than in the Republican-held Senate, where the bill's future is uncertain.