The act would also allow legitimate cannabis businesses to access loans and services rendered by the Small Business Administration, as well as prohibit the denial of public benefits to a person based on certain cannabis-related conduct or convictions. (Credit: Dmytro Tyshchenko/Shutterstock) The act would also allow legitimate cannabis businesses to access loans and services rendered by the Small Business Administration, as well as prohibit the denial of public benefits to a person based on certain cannabis-related conduct or convictions. (Credit: Dmytro Tyshchenko/Shutterstock)

Coming on the heels of what cannabis advocates are calling a historic November election, with five more states passing some form of cannabis legalization, the U.S. House of Representatives has passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act that removes cannabis from the list of scheduled substances and eliminates criminal penalties for distribution, manufacturing and possession of marijuana.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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