W.Va. Senate passes banking fix to medical marijuana law
The West Virginia Senate has passed a bill addressing banking services for the state's medical marijuana program.
The Senate approved the bill 29-4 Tuesday. It now goes to the governor.
The bill would authorize the state to allow financial institutions, including credit unions, to bid on contracts to process fees and other transactions collected under the program.
Lawmakers approved the program two years ago, and it's set to launch this summer.
The program had stalled over the question of banking services. Lawmakers have said banks have been hesitant about handling such transactions.
West Virginia Attorney General Patrick Morrisey issued an opinion in January that financial institutions face risks when providing such services because medical marijuana is illegal under federal law. Morrisey's opinion said he's unaware of any federal enforcement in states where medical marijuana is legal.
Related StoriesAfter long wait, 1st legal pot shops on East Coast to open
Marlboro maker Altria the latest big company to explore pot
New law would protect students who use CBD and THC-A oils
Lawmakers OK bills to expand access to CBD, THC-A oils
New legislation looks to increase access to medical cannabis
Higher education: Colleges add cannabis to the curriculum