WV HB109 | 2018 | 1st Special Session

Status

Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on May 20 2018 - 25% progression
Action: 2018-05-20 - To House Health and Human Resources
Pending: House Health & Human Resources Committee
Text: Latest bill text (Introduced) [HTML]

Summary

The purpose of this bill is to create the Medical Cannabis Banking Act to provide banking services for the Medical Cannabis Act. Various definitions are provided. The State Treasurer is required to create a closed-loop system to accept moneys and payments. Vendors are required to comply with all federal, state and local laws, regulations and rules. Various requirements are established for the closed-loop system and matters the system should prohibit. The Treasurer is to authorize acceptable forms of payment, and to withdraw or transfer any amounts due the state. A financial institution under this Act is not required to be a state depository. Actions under this Act are not unlawful under any other provisions of the Code. The Commissioner of Financial Institutions is not to impair operations of any financial institution engaged under this Act. The State is to indemnify the Treasurer and employees of the Treasurer’s Office providing banking services in accordance with the Act. The Treasurer is authorized to charge fees and to deposit and expend those fees. Confidential information is exempt from disclosure pursuant to a FOIA request. All information is accessible by the Bureau of Public Health and law enforcement, and by others upon execution of a nondisclosure agreement. This Act shall control over the Medical Cannabis Act, and any proprietary interests in the closed-loop system are subject to the Uniform Unclaimed Property Act.

Tracking Information

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Title

West Virginia Medical Cannabis Banking Act

Sponsors


Roll Calls

2018-05-20 - House - Motion to dispense with reference and read a 1st time rejected (Roll No. 571) (Y: 32 N: 56 NV: 12 Abs: 0) [FAIL]

History

DateChamberAction
2018-05-20HouseTo House Health and Human Resources
2018-05-20HouseIntroduced in House
2018-05-20HouseMotion to dispense with reference and read a 1st time rejected (Roll No. 571)
2018-05-20HouseTo Health and Human Resources then Banking and Insurance then Finance
2018-05-20HouseFiled for introduction

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
16B11New CodeSee Bill Text
16B12New CodeSee Bill Text
16B13New CodeSee Bill Text
16B14New CodeSee Bill Text
16B15New CodeSee Bill Text
16B16New CodeSee Bill Text
16B17New CodeSee Bill Text
16B18New CodeSee Bill Text

West Virginia State Sources


Bill Comments

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