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SAFE Act of 2017

Introduced: April 27, 2017 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 21, 2017

Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.

Apr 27, 2017

Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Apr 27, 2017

Introduced in House

Plain-English summary Congressional Research Service

Secure and Fair Enforcement Banking Act of 2017 or the SAFE Act of 2017

This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; or (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased to such a business.

As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing financial services to a legitimate marijuana-related business.

What's happening now September 21, 2017

Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.

Committees of jurisdiction 3