Removing Barriers Blog

Vermont’s Legislature Becomes the First to Legalize Recreational Marijuana
Posted May 12,2017 by CUNA Advocacy

While, eight states and the District of Columbia have legalized recreational marijuana by voter referendum; earlier this week, Vermont’s Legislature becomes the first in the nation to approve a recreational marijuana legalization bill, S. 22.  The measure will now be considered by Governor Phil Scott. If signed, it would become effective July 1, 2018.

The bill provides that small amounts of marijuana would be legal to possess and grow for anyone over the age 21. Larger amounts would remain illegal. The legislation also creates a nine-member commission that will develop a proposal to tax and regulate marijuana.

Marijuana businesses operating under state laws that have legalized the substance have, for the most part, been denied access to the mainstream financial system because institutions that provide financial services to such businesses can be prosecuted under federal law

CUNA continues to monitor and track marijuana legislation in Congress and the states.