The House will vote later this month on a bipartisan bill that will allow cannabis businesses access to the federal banking system.
House Majority Leader Steny Hoyer intends to bring the SAFE Banking Act to the House floor for a vote this month, his office confirmed to CNN.
Hoyer announced at the whip meeting Thursday on Capitol Hill that he would like to advance the legislation, according to his office.
“We’re discussing it with members, but it hasn’t been scheduled just yet,” Mariel Saez, a spokesperson for Hoyer, told CNN via email.
The SAFE Banking Act would provide protections for banks that work with marijuana companies since the substance is still illegal under federal law, despite several states having legalized medical or recreational marijuana.
The House Financial Committee voted 45-15 in favor of the bill in March. In May, when movement on the bill had stalled, a bipartisan group of attorneys general from 33 states and five territories urged Congress to pass it.
Green Bits, a group that has been advocating for the bill, praised Hoyer’s move. [Read more at CNN]