NAR Support Letter to the Full House Regarding H.R.1595, Secure and Fair Enforcement (SAFE) Act of 2019
Issue Date: September 23, 2019
US HR 1595 - Secure and Fair Enforcement (SAFE) Banking Act of 2019
On September 23, NAR sent a letter to the Full House. The letter urges House members to pass upon it’s consideration on the House floor. This bipartisan bill, introduced by Representatives Ed Perlmutter (D-CO) and Steve Stivers (R-OH), provides a clear framework for cannabis businesses to access financial services. As more states legalize cannabis use, the industry continues to rapidly grow, with more than $10 billion in sales and $1 billion in state tax revenue already recorded. However, barriers preventing these state-legal businesses from accessing federally-insured banks can impede their ability to grow while raising safety issues in their communities.