S.862 - Clarifying Law Around Insurance of Marijuana Act117th Congress (2021-2022) |
|Sponsor:||Sen. Menendez, Robert [D-NJ] (Introduced 03/18/2021)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 03/18/2021 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.862 — 117th Congress (2021-2022)All Information (Except Text)
Introduced in Senate (03/18/2021)
Clarifying Law Around Insurance of Marijuana Act or the CLAIM Act
This bill generally provides a safe harbor from penalties or other adverse agency action for insurance companies that provide services to cannabis-related legitimate businesses in jurisdictions where such activity is legal.
The Government Accountability Office must report on barriers to marketplace entry for minority-owned and women-owned cannabis-related businesses.