On September 27, the Senate Banking, Housing and Urban Affairs Committee passed the latest version of the Secure and Fair Enforcement Regulation (SAFER) Banking Act, the cannabis safe harbor bill (S. 2860), by a vote of 14 to 9. PIA has long supported the SAFE Banking Act, its predecessor, which was recently revised and reintroduced …
Continue reading PIA-Supported Cannabis Safe Harbor Bill Passes Senate Banking Committee
Earlier this year, the Secure and Fair Enforcement (SAFE) Banking Act (S.1323/H.R.2891), was reintroduced in each chamber by Senator Jeff Merkley (D-OR), and Congressman David Joyce (R-OH), respectively. PIA strongly supports this legislation, which would protect insurance agents and carriers from the possibility of federal prosecution for providing insurance to cannabis-related entities in states where cannabis …
Continue reading PIA Action Alert: Support Cannabis Safe Harbor for Agents
PIA has been advocating to protect insurance agents from federal prosecution for doing business with cannabis-related enterprises in states in which such businesses are legal. Nearly every state has legalized cannabis to some degree. PIA does not take a position on the legalization of cannabis and views this issue strictly a matter of respecting state insurance laws. In addition, …
Continue reading Cannabis Safe Harbor Legislation Reintroduced
The federal government is currently on the precipice of finalizing a sweeping, $1.7 trillion omnibus funding package, just in time to prevent a looming government shutdown, which would have begun at midnight tonight. Funding the government through the end of the current fiscal year was the final item on the 117th Congress’s agenda. The omnibus …
Continue reading Omnibus Heads to Biden’s Desk for Signature
Now that the midterm election results are in, and the majority parties of both the Senate and House for the next Congress are known, Congress has returned for a lame-duck session with a long to-do list before the 117th Congress ends on January 3, 2023. PIA is engaged with Congress on several issues in …
The House of Representatives has again passed the SAFE Banking Act, a PIA top priority, for the 4th time this Congress. The SAFE Banking Act would protect insurance agents and carriers from federal prosecution doing business with cannabis-related enterprises in states in which such businesses are legal. Nearly every state has legalized cannabis to some degree. …
Continue reading Cannabis Safe Banking Passes House as Part of Defense Bill Once Again
When we announced the passage of a cannabis safe harbor bill as a 2022 legislative priority again this year, we did not expect the SAFE Banking Act to pass the House a third time this Congress and still not make it out of the Senate, but here we are, at least today. As you may …
Continue reading Cannabis Safe Harbor: Up for Grabs … or Up in Smoke?
Members of the PIA of Wisconsin met this week with members of their Congressional delegation on a number of PIA’s 2022 Issues of Focus: the dangers of federal regulatory overreach into the insurance industry and the need to repeal the Federal Insurance Office (FIO), the importance of making the 20 percent tax deduction for passthrough …
Continue reading PIA Wisconsin Advocates for 2022 Priorities
In February, the Secure And Fair Enforcement (SAFE) Banking Act, the passage of which is one of PIA’s top legislative priorities, passed the House of Representatives after being included in the America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength (COMPETES) Act of 2022, a bill that aims to improve American competitiveness by increasing domestic …
Continue reading Conference Committee Next Step for Cannabis Safe Harbor
The Secure And Fair Enforcement (SAFE) Banking Act, one of PIA’s top legislative priorities, was passed in the House of Representatives on February 4 by a vote of 222-210 after being incorporated into the America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength (COMPETES) Act of 2022, a bill that aims to improve American competitiveness …
Continue reading Cannabis Safe Harbor Passes House as Part of America COMPETES Act
