It's unlikely the bill will pass in the current Senate but after the Georgia runoffs in January Vice President Harris will vote to break a 50-50 tie.
The Act:
replaces statutory references to marijuana and marihuana with cannabis,
requires the Bureau of Labor Statistics to regularly publish demographic data on cannabis business owners and employees,
establishes a trust fund to support various programs and services for individuals and businesses in communities impacted by the war on drugs,
imposes a 5% tax on cannabis products and requires revenues to be deposited into the trust fund,
makes Small Business Administration loans and services available to entities that are cannabis-related legitimate businesses or service providers,
prohibits the denial of federal public benefits to a person on the basis of certain cannabis-related conduct or convictions,
prohibits the denial of benefits and protections under immigration laws on the basis of a cannabis-related event (e.g., conduct or a conviction),
and establishes a process to expunge convictions and conduct sentencing review hearings related to federal cannabis offenses.
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