HB 1203 allows banks to provide financial services to businesses licensed to grow or sell industrial hemp and marijuana in South Dakota, as well as to people associated with those businesses. Currently, federal banking restrictions make it difficult for these businesses to access traditional banking services, so this change removes state-level barriers that prevented South Dakota banks from working with them.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 570
Delivered to the Governor H.J. 530
Signed by the President S.J. 445
Signed by the Speaker H.J. 467
Senate Do Pass Amended Passed, YEAS 33, NAYS 2. S.J. 368
Commerce and Energy Do Pass Passed, YEAS 8, NAYS 1.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 330
House of Representatives Do Pass Amended Passed, YEAS 64, NAYS 4. H.J. 334
Commerce and Energy Do Pass Amended Passed, YEAS 13, NAYS 0.
Commerce and Energy Motion to amend Passed, YEAS 13, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 177
Hugh Bartels
Prime sponsor · Rep.
R
Michael Diedrich
Prime sponsor · Sen.
R
Cosponsors
Do Pass Amended
Commerce and Energy — Do Pass
Do Pass Amended
Commerce and Energy — Motion to amend
Commerce and Energy — Do Pass Amended