[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 5131 Introduced in Senate (IS)]
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117th CONGRESS
2d Session
S. 5131
To ensure that certain loan programs of the Small Business
Administration are made available to cannabis-related legitimate
businesses and service providers, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
November 17, 2022
Ms. Rosen introduced the following bill; which was read twice and
referred to the Committee on Small Business and Entrepreneurship
_______________________________________________________________________
A BILL
To ensure that certain loan programs of the Small Business
Administration are made available to cannabis-related legitimate
businesses and service providers, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Fair Access for Cannabis Small
Businesses Act''.
SEC. 2. 7(A) LOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND
SERVICE PROVIDERS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is
amended by adding at the end the following:
``(38) Loans to cannabis-related legitimate businesses and
service providers.--
``(A) Definitions.--In this paragraph:
``(i) Cannabis.--The term `cannabis' has
the meaning given the term `marihuana' in
section 102 of the Controlled Substances Act
(21 U.S.C. 802).
``(ii) Cannabis product.--The term
`cannabis product' means any article that
contains cannabis, including an article that is
a concentrate, an edible, a tincture, a
cannabis-infused product, or a topical.
``(iii) Cannabis-related legitimate
business.--The term `cannabis-related
legitimate business' means a manufacturer,
producer, or any person or company that is a
small business concern and that--
``(I) engages in any activity
described in subclause (II) pursuant to
a law established by a State or a
political subdivision of a State, as
determined by the State or political
subdivision; and
``(II) participates in any business
or organized activity that involves
handling cannabis or cannabis products,
including cultivating, producing,
manufacturing, selling, transporting,
displaying, dispensing, distributing,
or purchasing cannabis or cannabis
products.
``(iv) Manufacturer.--The term
`manufacturer' means a person who manufactures,
compounds, converts, processes, prepares, or
packages cannabis or cannabis products.
``(v) Producer.--The term `producer' means
a person who plants, cultivates, harvests, or
in any way facilitates the natural growth of
cannabis.
``(vi) Service provider.--The term `service
provider'--
``(I) means a business,
organization, or other person that--
``(aa) sells goods or
services to a cannabis-related
legitimate business; or
``(bb) provides any
business services, including
the sale or lease of real or
any other property, legal or
other licensed services, or any
other ancillary service,
relating to cannabis; and
``(II) does not include a business,
organization, or other person that
participates in any business or
organized activity that involves
handling cannabis or cannabis products,
including cultivating, producing,
manufacturing, selling, transporting,
displaying, dispensing, distributing,
or purchasing cannabis or cannabis
products.
``(vii) State.--The term `State' means each
of the several States, the District of
Columbia, Puerto Rico, and any territory or
possession of the United States.
``(B) Loans.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), the
Administrator may not decline to provide a guarantee
for a loan under this subsection, and a lender may not
decline to make a loan made under this subsection, to
an otherwise eligible small business concern solely
because the concern is a cannabis-related legitimate
business or service provider.''.
SEC. 3. DISASTER LOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND
SERVICE PROVIDERS.
Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is
amended by inserting after paragraph (15) the following:
``(16) Assistance to cannabis-related legitimate businesses
and service providers.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), the
Administrator may not decline to provide assistance under this
subsection to an otherwise eligible borrower solely because the
borrower is a cannabis-related legitimate business or service
provider (as defined in subsection (a)(38)).''.
SEC. 4. MICROLOANS TO CANNABIS-RELATED LEGITIMATE BUSINESSES AND
SERVICE PROVIDERS.
Section 7(m) of the Small Business Act (15 U.S.C. 636(m)(13)) is
amended by adding at the end the following:
``(14) Assistance to cannabis-related legitimate businesses
and service providers.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), the
Administrator may not prohibit an eligible intermediary from
providing assistance under this subsection to an otherwise
eligible borrower solely because the borrower is a cannabis-
related legitimate business or service provider (as defined in
subsection (a)(38)).''.
SEC. 5. SMALL BUSINESS INVESTMENT COMPANY DEBENTURES TO FINANCE
CANNABIS-RELATED LEGITIMATE BUSINESSES AND SERVICE
PROVIDERS.
Part A of title III of the Small Business Investment Act of 1958
(15 U.S.C. 681 et seq.) is amended by adding at the end the following:
``SEC. 321. DEBENTURES TO FINANCE CANNABIS-RELATED LEGITIMATE
BUSINESSES AND SERVICE PROVIDERS.
``(a) Guarantees.--Notwithstanding any provision of the Controlled
Substances Act (21 U.S.C. 801 et seq.), the Administrator may not
decline to purchase or guarantee a debenture issued under this title to
an otherwise eligible small business investment company solely because
the small business investment company provides financing to an entity
that is a cannabis-related legitimate business or service provider (as
defined in paragraph (38) of section 7(a) of the Small Business Act (15
U.S.C. 636(a)).
``(b) Other Assistance.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), the Administrator
may not prohibit a small business investment company from providing
assistance under this title to an otherwise eligible small business
concern solely because the small business concern is a cannabis-related
legitimate business or service provider (as defined in paragraph (38)
of section 7(a) of the Small Business Act (15 U.S.C. 636(a)).''.
SEC. 6. STATE OR LOCAL DEVELOPMENT COMPANY LOANS TO FINANCE CANNABIS-
RELATED LEGITIMATE BUSINESSES AND SERVICE PROVIDERS.
Title V of the Small Business Investment Act of 1958 (15 U.S.C. 695
et seq.) is amended by adding at the end the following:
``SEC. 511. LOANS TO FINANCE CANNABIS-RELATED LEGITIMATE BUSINESSES AND
SERVICE PROVIDERS.
``(a) Guarantees.--Notwithstanding any provision of the Controlled
Substances Act (21 U.S.C. 801 et seq.), the Administrator may not
decline to guarantee a debenture issued under this title for the
purpose of making 1 or more loans to small business concerns solely
because the small business concern is a cannabis-related legitimate
business or service provider (as defined in paragraph (38) of section
7(a) of the Small Business Act (15 U.S.C. 636(a)).
``(b) Other Assistance.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), a qualified State or
local development company may not decline an application for a loan
under this title submitted by an otherwise eligible small business
concern solely because the small business concern is a cannabis-related
legitimate business or service provider (as defined in paragraph (38)
of section 7(a) of the Small Business Act (15 U.S.C. 636(a)).''.
SEC. 7. ASSISTANCE FROM RESOURCE PARTNERS FOR CANNABIS-RELATED
LEGITIMATE BUSINESSES AND SERVICE PROVIDERS.
(a) Small Business Development Centers.--Section 21(c) of the Small
Business Act (15 U.S.C. 648(c)) is amended by adding at the end the
following:
``(9) Services for cannabis-related legitimate businesses
and service providers.--Notwithstanding any provision of the
Controlled Substances Act (21 U.S.C. 801 et seq.), a small
business development center may not decline to provide services
to an otherwise eligible small business concern under this
section solely because the small business concern is a
cannabis-related legitimate business or service provider (as
defined in section 7(a)(38)).''.
(b) Women's Business Centers.--Section 29 of the Small Business Act
(15 U.S.C. 656) is amended by adding at the end the following:
``(p) Services for Cannabis-Related Legitimate Businesses and
Service Providers.--Notwithstanding any provision of the Controlled
Substances Act (21 U.S.C. 801 et seq.), a women's business center may
not decline to provide services to an otherwise eligible small business
concern under this section solely because the small business concern is
a cannabis-related legitimate business or service provider (as defined
in section 7(a)(38)).''.
(c) SCORE.--Section 8(b)(1)(B) of the Small Business Act (15 U.S.C.
637(b)(1)(B)) is amended by adding at the end the following:
``Notwithstanding any provision of the Controlled Substances Act (21
U.S.C. 801 et seq.), the head of the SCORE program established under
this subparagraph may not decline to provide services to an otherwise
eligible small business concern solely because the concern is a
cannabis-related legitimate business or service provider (as defined in
section 7(a)(38)).''.
(d) Veteran Business Outreach Centers.--Section 32 of the Small
Business Act (15 U.S.C. 657b) is amended by adding at the end the
following:
``(h) Services for Cannabis-Related Legitimate Businesses and
Service Providers.--Notwithstanding any provision of the Controlled
Substances Act (21 U.S.C. 801 et seq.), a Veteran Business Outreach
Center may not decline to provide services to an otherwise eligible
small business concern under this section solely because the small
business concern is a cannabis-related legitimate business or service
provider (as defined in section 7(a)(38)).''.
SEC. 8. TECHNICAL ASSISTANCE PROVIDERS.
In addition to the programs covered by the amendments made by this
Act, and notwithstanding any provision of the Controlled Substances Act
(21 U.S.C. 801 et seq.), a provider of financial or technical
assistance under a program administered or funded by the Small Business
Administration may not decline to provide such financial or technical
assistance to an otherwise eligible small business concern (as defined
in section 3 of the Small Business Act (15 U.S.C. 632)) solely because
the concern is a cannabis-related legitimate business or service
provider (as defined in section 7(a)(38) of the Small Business Act (15
U.S.C. 636(a)(38)).
SEC. 9. RULEMAKING.
Not later than 120 days after the date of enactment of this Act,
the Administrator of the Small Business Administration shall issue or
amend any rules, standard operating procedures, and other legal or
policy guidance as necessary to carry out the requirements of this Act
and the amendments made by this Act.
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