Rep. Reschenthaler Introduces Bipartisan CLIMB Act to Let Cannabis Companies List on Stock Exchanges
This bill is currently in the early stages of the legislative process after being sent to the House Committee on Financial Services for review. It is considered active, but there are no upcoming votes or hearings scheduled at this time. The bill does not have a companion bill listed.
The bill has support from both parties and addresses a major business problem, but similar marijuana laws have struggled to pass the full Congress in the past.
The bill explicitly includes Indian Tribes in its definition of "State," meaning tribal cannabis operations authorized under tribal law would receive the same federal protections as state-legal businesses. This could help tribes that have legalized cannabis access banking, investment, and professional services that have been difficult to obtain.
“The term `State' means each of the several States, the District of Columbia, each of the territories of the United States, and each Indian Tribe.”
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
Reps. Guy Reschenthaler (R-PA) and Troy Carter (D-LA) reintroduced the CLIMB Act, which would allow state-legal cannabis companies to list on major U.S. stock exchanges. The bill also shields banks, insurers, and other service providers from federal penalties for working with the industry.
The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act aims to level the playing field for U.S. firms currently barred from national exchanges. It prevents federal agencies from penalizing companies providing critical services like insurance and debt or equity capital.
The CLIMB Act (H.R. 7987) would make clear that cannabis businesses operating legally under state law can be listed on major exchanges. It also blocks federal agencies from penalizing individuals for providing services such as accounting, legal work, and real estate to the industry.
Document Type
Congressional Bill
Official Title
CLIMB Act
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