Resolve, Directing The Treasurer Of State To Review And Develop Options For Meeting The Banking Needs Of The Cannabis Industry

LD 859 is a legislative resolve directing Maine's Treasurer of State to study banking solutions for cannabis businesses. It requires the Treasurer, with input from state agencies, to examine options for serving adult-use and medical cannabis industry participants - including reviewing other states' approaches and federal banking efforts - and report findings by December 3, 2025. The report will inform potential future legislation, but the resolve itself does not change current banking rules or provide funding. This study directly affects cannabis businesses seeking banking services, which remain limited due to federal restrictions. The Treasurer must submit recommendations to the Joint Standing Committee on Veterans and Legal Affairs, which may propose new laws based on the findings.