Capitol Hill is getting ready to join the 420 party. Lawmakers have filed a bill that is aptly titled, H.R. 420 in an attempt to remove cannabis from the federal Controlled Substances Act. Rep. Earl Blumenauer (D-Oregon) introduced the 420 bill, officially known as the Regulate Cannabis Like Alcohol Act. The name is perfect. But to Blumenauer, “the issue is very serious.”

The goal of the bill is to have the Bureau of Alcohol, Tobacco, Firearms and Explosives take over jurisdiction of cannabis. In addition, federal money could also be used to fund marijuana research, increase banking options for cannabusinesses and begin the process of allowing the buying and selling of cannabis across state lines. However, H.R. 420, would not permit transport of cannabis into states that have not yet legalized the substance. It could only go from legal state to legal state.

420 Bill Seeks to Resolve Outdated Marijuana Laws

According to Blumenauer,

“Our federal marijuana laws are outdated, out of touch and have negatively impacted countless lives. Congress cannot continue to be out of touch with a movement that a growing majority of Americans support. It’s time to end this senseless prohibition.”

The 420 bill isn’t actually the first attempt at more comprehensive cannabis legalization while using a tongue-in-cheek bill name. SB 420 was tried in 2003 in California. The 420 bill would have created statewide medical cannabis regulations. Then in 2017, a senator in Rhode Island filed S 420. This bill would have permitted adults 21+ to possess up to one ounce of marijuana in public and five ounces at home. Additional provisions would have allowed for homegrows of one plant and possession of cannabis products with up to 300 mg of THC.

New Oversight, New Name

But adding cannabis to the Alcohol Bureau would require the assistance and oversight of other related organizations. The Alcohol, Tobacco and Marijuana Tax and Trade Bureau would gain oversight authority, so too would the Food and Drug Administration. Federal permits would exist for cultivation, packaging, selling and importing of marijuana.

The Congressional Cannabis Caucus

Blumenauer is also the co-chair of the Congressional Cannabis Caucus. The Caucus has released a federal cannabis legalization plan. Although, the plan would require hearings:

  • A House Judiciary Committee hearing on de-scheduling marijuana
  • Hearing on safe and equal access to medical marijuana for veterans in the House Veterans Affairs Committee
  • House Financial Services Committee hearing on barriers to the safe access of banking services and capital as well as barriers to banking services for state legal marijuana businesses

Stay Tuned for Updates from Pinnacle

If H.R. 420 passes, the industry feels that it would be the first major step toward federal legalization and treating cannabis like alcohol. But many states throughout the U.S. already manage their marijuana programs in this way. Stay updated with Pinnacle Consultation. We’re primed and ready to get you started on the next aspect of your cannabusiness. Call us today at (719) 330-5301.