CLIMB Act
Sponsored By: Representative Reschenthaler
Introduced
Summary
Would expand legal access to capital for state-legal cannabis businesses. It would block federal penalties for people who help those businesses and create a securities-market safe harbor so national exchanges and certain market participants can list, trade, and facilitate offerings of cannabis-related issuers and related service providers.
Show full summary
- State-legal cannabis businesses and the companies that serve them would get clearer routes to raise funds, including listings, offerings, and trading on national exchanges under the new safe harbor.
- Banks, insurers, accountants, lawyers, property lessors, and other service providers would be shielded from federal adverse actions when they provide a defined set of business assistance. The bill lists 12 categories of covered assistance such as financial products, insurance, accounting, underwriting, advertising, and logistics.
- Brokers, dealers, exchanges, clearing agencies, investment advisers, and similar market participants would be authorized to list, trade, and facilitate securities of cannabis-related issuers or service providers despite conflicts with the Controlled Substances Act.
- The provisions would take effect 180 days after enactment.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Protections for cannabis service providers
If enacted, this bill would stop federal agencies from taking adverse action solely because a person helps a state-legal cannabis business. "Help" would include banking, insurance, loans or investments, accounting, real estate, equipment, advertising, legal, IT, packaging, and securities services. "Person" would include individuals and many business entity types. These protections would take effect 180 days after enactment.
Safe harbor for cannabis stocks
If enacted, this bill would let national securities exchanges and market participants list, trade, and help offer securities of state-legal cannabis companies and defined service providers. The bill would define who counts as a cannabis-related business, a service provider, and a market participant. The safe harbor would operate despite the Controlled Substances Act or other federal law. The safe harbor would take effect 180 days after enactment.
Sponsors & CoSponsors
Sponsor
Reschenthaler
PA • R
Cosponsors
Carter (LA)
LA • D
Sponsored 3/18/2026
Roll Call Votes
No roll call votes available for this bill.
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