CLAIM Act

This bill would bar federal agencies from prohibiting, penalizing, or discouraging insurance companies from insuring cannabis businesses that operate legally under state, local, or tribal law. Agencies also could not cancel or limit an insurer's policies, or take supervisory action against a policy, solely because it involves a cannabis business, its owners or employees, or people who lease property or equipment to such a business. Insurers and their officers, directors, and employees could not be held liable under federal law solely for insuring these businesses or for investing the income from that insurance. The bill does not require any insurer to cover cannabis businesses. It also directs the Government Accountability Office to study and report to Congress on barriers that minority-owned and women-owned cannabis businesses face in entering the market and getting financial services.

Full text and official record on Congress.gov

Sponsors

• Nydia M. Velázquez Democrat sponsor
• 1 cosponsors