3.0.0 4711 2023-01-11T13:39:12Z 2023-01-11T13:39:12Z House HR 2017-12-21 115 [Congressional Record Volume 163, Number 209 (Thursday, December 21, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 4711.Congress has the power to enact this legislation pursuantto the following:(According to Article I, Section 8, Clause 3 of theConstitution: The Congress shall have power to enact thislegislation to regulate commerce with foreign nations, andamong the several states, and with the Indian tribes.)[Page H10420]]]> hsba00 Financial Services Committee House Standing Referred to 2017-12-21T14:01:50Z 2017-12-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-12-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-12-21 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2017-12-21 True P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2017-12-21 True Finance and Financial Sector Agricultural practices and innovations Bank accounts, deposits, capital Banking and financial institutions regulation Business investment and capital Civil actions and liability Drug trafficking and controlled substances Financial services and investments Fraud offenses and financial crimes Finance and Financial Sector 00 2017-12-21 Introduced in House 2018-05-14T16:20:34Z Industrial Hemp Banking Act

This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate industrial hemp business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder solely because the account holder is affiliated with such a business; or (4) taking any adverse or corrective supervisory action on a loan made to a person solely because the person either owns such a business or owns real estate or equipment leased to such a business.

As specified by the bill, a depository institution shall not, under federal law, be liable or subject to forfeiture for providing financial services to a legitimate industrial hemp business.

]]> Industrial Hemp Banking Act Display Title Industrial Hemp Banking Act Official Title as Introduced To create protections for depository institutions that provide financial services to industrial hemp legitimate businesses, and for other purposes. Introduced in House IH Short Titles as Introduced Industrial Hemp Banking Act Introduced in House 2017-12-21T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4711ih/xml/BILLS-115hr4711ih.xml 2017-12-21 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.