DENVER (AP) -- Banking for marijuana businesses in Colorado passed during the last day of legislative session, and lawmakers also approved property tax forgiveness for disaster victims.
The banking plan would create the world's first financial system for the pot industry. It will have co-ops acting as uninsured credit unions if the Federal Reserve Bank agrees to allow the businesses access merchant payment systems. The governor still has to sign the bill.
Before finishing the 120-legislative session Wednesday, lawmakers also passed a bill to forgive property taxes for people who lost their homes during floods and wildfires last year.
Last month, lawmakers approved a $23 billion state spending plan that budgets more money for public schools and colleges.
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.