MT SJ5

Montana's 69th Legislature urges U.S. Congress to pass the SAFER Banking Act of 2023, which would prevent penalization of banks and financial institutions for providing services to marijuana-related businesses

Montana legalized medical marijuana in 2004 and recreational marijuana in 2020, generating over $117 million in taxes from $726 million in sales between January 2022 and April 2024

Lack of banking access forces marijuana businesses to operate in cash, increasing risks of crime, tax evasion, and regulatory evasion

The federal SAFER Banking Act was cosponsored by Montana Senators Steve Daines and Jon Tester and approved by the U.S. Senate Committee on Banking, Housing, and Urban Affairs

Secretary of State directed to send copies of the resolution to congressional leadership and Montana's congressional delegation