U.S. Congress legislation · 119th Congress
HB7987: CLIMB Act
Status: In committee, March 18, 2026
To prohibit Federal agencies from taking any adverse action against a person solely because the person provides business assistance to a cannabis-related legitimate business, to amend the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges to list the securities of issuers that are cannabis-related legitimate businesses, and for other purposes.
What the bill says
To prohibit Federal agencies from taking any adverse action against a person solely because the person provides business assistance to a cannabis-related legitimate business, to amend the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges to list the securities of issuers that are cannabis-related legitimate businesses, and for other purposes.
From the introduced text, March 18, 2026:
A BILL To prohibit Federal agencies from taking any adverse action against a person solely because the person provides business assistance to a cannabis-related legitimate business, to amend the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges to list the securities of issuers that are cannabis-related legitimate businesses, and for other purposes. SECTION 1. Short title This Act may be cited as the Capital Lending and Investment for Marijuana Businesses Act or the CLIMB Act . SECTION 2. Prohibition on Federal agencies taking certain actions against persons who provide business assistance to cannabis-related legitimate businesses (a) In general A Federal agency may not take any adverse action against a person solely because the person provides business assistance to a cannabis-related legitimate business or service provider. (b) Definitions In this section: (1) Business assistance The term business assistance means-- (A) providing a financial product or service; (B) selling insurance or surety products; (C) providing debt or equity capital or receiving dividends, interest, or distributions of that capital; (D) providing accounting services; (E) the sale, lease, or rental of real estate; (F) providing equipment, parts, substances, or testing services needed to produce cannabis in compliance with the laws and regulations in the applicable State; (G) providing advertising or marketing services; (H) providing management consulting services; (I) …
Sponsors
- Guy Reschenthaler (R, HD-PA-14) · primary sponsor
- Troy Carter (D, HD-LA-2)
- Pat Ryan (D, HD-018)
- Christopher Deluzio (D, HD-PA-17)
- Bill Foster (D, HD-011)
- David Joyce (R, HD-OH-14)
Latest actions
- : Referred to the House Committee on Financial Services.
- : Introduced in House
Subjects: Finance and Financial Sector
Common questions
- What is HB7987?
- HB7987 is a bill in Congress (119th Congress): CLIMB Act.
- What does HB7987 do?
- In its own words: To prohibit Federal agencies from taking any adverse action against a person solely because the person provides business assistance to a cannabis-related legitimate business, to amend the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges to list the securities of issuers that are cannabis-related legitimate businesses, and for other purposes.
- What is the status of HB7987?
- In committee as of March 18, 2026. Latest action: Referred to the House Committee on Financial Services. (March 18, 2026).
- Who sponsored HB7987?
- Guy Reschenthaler (R, HD-PA-14), with 5 co-sponsors.
- Where is the official record for HB7987?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/7987
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.