Colo. lawmakers nix first-ever pot investment fund

DENVER — Colorado lawmakers have rejected a first-in-the-nation investment fund for marijuana after a fiery debate.

Democrats and Republicans fell on both sides of a debate today over starting a state-backed fund legitimizing investment in marijuana research, plus financial services for pot shops.

Supporters argued that marijuana businesses are ripe for corruption because banks won’t take their money, forcing them to do their business in cash.

But opponents argued that because marijuana is still federally banned, the state should not legitimize business transactions involving pot.

The House is pondering several changes to sweeping rules for marijuana businesses in Colorado.

Online:
House Bill 1043: http://goo.gl/hNM2d



COMMENTS

Commenting is not available in this channel entry.




Search More Jobs






THE DAILY SENTINEL
734 S. Seventh St.
Grand Junction, CO 81501
970-242-5050
Editions
Subscribe to print edition
E-edition
Advertisers
Sign in to your account
Information

© 2014 Grand Junction Media, Inc.
By using this site you agree to the Visitor Agreement and the Privacy Policy