KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Maine

LD859 • 2025

Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry

Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Representative Sally Cluchey
Last action
2025-04-08
Official status
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry

Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry Sponsor: Representative Sally Cluchey Reference committee: Veterans and Legal Affairs Latest committee action: Reported Out; ONTP

What This Bill Does

  • Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry Sponsor: Representative Sally Cluchey Reference committee: Veterans and Legal Affairs Latest committee action: Reported Out; ONTP

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-04-08 Senate

    Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

  2. 2025-04-01 Committee

    Reported Out; ONTP

  3. 2025-03-26 Committee

    Work Session Held

  4. 2025-03-26 Committee

    Voted; ONTP

  5. 2025-03-21 House

    Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

  6. 2025-03-04 Committee

    Referred to Committee on Veterans and Legal Affairs.

Official Summary Text

Resolve, Directing the Treasurer of State to Review and Develop Options for Meeting the Banking Needs of the Cannabis Industry
Sponsor:
Representative Sally Cluchey
Reference committee:
Veterans and Legal Affairs
Latest committee action:
Reported Out; ONTP

Current Bill Text

Read the full stored bill text 
Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 859
H.P. 545 House of Representatives, March 4, 2025
Resolve, Directing the Treasurer of State to Review and Develop
Options for Meeting the Banking Needs of the Cannabis Industry
Reference to the Committee on Veterans and Legal Affairs suggested and ordered printed.
ROBERT B. HUNT
Clerk
Presented by Representative CLUCHEY of Bowdoinham.

Page 1 - 132LR1979(01)
1Sec. 1. Banking and cannabis industry study. Resolved: That the Treasurer
2 of State shall, in consultation with the Finance Authority of Maine, the Department of
3 Administrative and Financial Services, Office of Cannabis Policy and any other state
4 agency or organization that the Treasurer of State determines to be appropriate, review
5 options for meeting the banking needs of individuals and businesses involved in the adult
6 use cannabis and medical cannabis industries in the State, including examining banking
7 solutions in other states that have legalized cannabis use, banking solution efforts under
8 way at the federal level and actions the Legislature can take to encourage federal action on
9 banking solutions.
10Sec. 2. Report. Resolved: That, by December 3, 2025, the Treasurer of State shall
11 submit a report based on the review in section 1 to the Joint Standing Committee on
12 Veterans and Legal Affairs. The committee is authorized to submit legislation based on the
13 report to the Second Regular Session of the 132nd Legislature.
14SUMMARY
15 This resolve directs the Treasurer of State to review options for meeting the banking
16 needs of individuals and businesses involved in the adult use cannabis and medical
17 cannabis industries in the State, including examining banking solutions in other states that
18 have legalized cannabis use, banking solution efforts under way at the federal level and
19 actions the Legislature can take to encourage federal action on banking solutions. The
20 treasurer is required to submit a report based on the review by December 3, 2025 to the
21 Joint Standing Committee on Veterans and Legal Affairs, which is authorized to submit
22 legislation based on the report to the Second Regular Session of the 132nd Legislature.
15
16
17
18
19
20
21
22