Senate Bill 862
117th Congress(2021-2022)
Clarifying Law Around Insurance of Marijuana Act
Introduced
Introduced in Senate on Mar 18, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
862
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
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.
March 18, 2021
03/18/2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
03/18/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:26:17 PM