American Bar Association Says Firms Working ‘Indirectly’ With Marijuana Industry Should Get COVID Relief | Marijuana Moment

  • The American Bar Association (ABA) sent a letter to the heads of the Treasury Department and Small Business Administration (SBA) on Friday, urging them to end a current policy preventing law firms that service state-legal marijuana businesses from receiving federal coronavirus relief.
  • We stand with the ABA in urging the Treasury and Small Business Administration to issue further guidance, clarifying that indirect marijuana businesses’ are eligible for PPP loans.
  • In February, ABA’s House of Delegates voted in favor of proposals endorsing pending federal legislation to protect banks that service cannabis businesses and calling for a clarification of rules to ensure that lawyers will not be penalized for representing clients in cases concerning state-legal marijuana activity.
  • A bipartisan coalition of 34 state and territory attorneys general asked Congress to pass the bill with that language , which would protect banks that service marijuana businesses from being penalized by federal regulators.
  • In the lead up to a statewide referendum on marijuana legalization in New Jersey, lawmakers have filed a new, more incremental bill, that would make it so people are no longer subject to jail time or criminal penalties for low-level cannabis offenses in the meantime.
  • The measure, S2535, would also set up what lawmakers called a new form of virtual’ expungement, which would automatically deem certain marijuana-related convictions not to have occurred, an act they said will remove the need for people to petition a court for an expungement.

Read full article: