Lou Correa on Drugs

Immunity for banks offering services to marijuana businesses.

Congressional Summary:This bill provides a safe harbor for depository institutions providing financial services to a marijuana-related legitimate business insofar as it prohibits a federal banking regulator from:

1. terminating or limiting the deposit or share insurance of a depository institution solely because it provides financial services to a marijuana-related legitimate business; or
2. prohibiting, penalizing, or otherwise discouraging a depository institution from offering such services.

Argument in Favor: [Cato Institute, March 31, 2016]: Marijuana is now legal under the laws of [several] states, but not under federal law. And this creates huge headaches for marijuana businesses:

• Two years after Colorado fully legalized the sale of marijuana, most banks here still don't offer services to the businesses involved.
• Financial institutions are caught between state law that has legalized marijuana and federal law that bans it. Banks' federal regulators don't fully recognize such businesses and impose onerous reporting requirements on banks that deal with them.
• Without bank accounts, the burgeoning pot sector can't accept credit or debit cards from customers.

Voted YES on combatting epidemic of synthetic drugs.

GovTrack.us Summary: (SITSA): There are more than 400 known types of synthetic--or "artificial"--drugs, which mimic the effects of substances including cocaine and ecstasy. They've largely begun to flood the market in recent years. The bill outlaws 13 different synthetic drugs of the most pernicious varieties. There are more than 400 known types of synthetic--or "artificial"--drugs, which mimic the effects of substances including cocaine and ecstasy. They've largely begun to flood the market in recent years.

GovTrack Pro/Con: Supporters argue the legislation will tackle a growing scourge in a far more timely and immediate manner than what the lagging DEA is usually able to accomplish. Opponents argue the bill would too greatly expand Attorney General Jeff Sessions' ability to criminalize drugs and impose unnecessarily punitive mandatory sentences, according to a letter signed by dozens of organizations including the American Civil Liberties Union (ACLU), Human Rights Watch, and NAACP.Opponent's argument to vote NO Rep. Jerrold Nadler (D-NY): The bill would explicitly impose mandatory minimum terms of supervised release which undermines the discretion of judges who are in the best position to make such determinations based on the facts and circumstances of each case.

Legislative outcome: House Bill Passed 239-142-46, Roll Number 268 on June 15, 2018