What does Preamble of CLIMB Act do?

This bill prohibits Federal agencies from taking adverse action against persons assisting cannabis-related businesses It amends the Securities Exchange Act of 1934 to create a safe harbor for listing securities of cannabis-related businesses The bill has other purposes beyond these two main provisions

What does SHORT TITLE. of CLIMB Act do?

This bill is formally titled the Capital Lending and Investment for Marijuana Businesses Act.

What does PROHIBITION ON FEDERAL AGENCIES TAKING CERTAIN ACTIONS AGAINST of CLIMB Act do?

This section prohibits federal agencies from taking adverse actions against individuals or entities solely because they provide business assistance to cannabis-related legitimate businesses or service providers. “Business assistance” includes a wide range of services, such as providing financial products, selling insurance, offering accounting services, and providing real estate or equipment. The definition of 'cannabis,' 'cannabis-related legitimate business,' and 'service provider' are derived from section 6(m)(1) of the Securities Exchange Act of 1934. The term 'financial product or service' is defined by section 1002 of the Consumer Financial Protection Act of 2010. The term 'person' is broadly defined to include various entities.

What does SAFE HARBOR FOR NATIONAL SECURITIES EXCHANGES. of CLIMB Act do?

This section amends the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges and market participants related to cannabis-related businesses and service providers. The safe harbor allows exchanges and market participants to list, trade, and facilitate offerings of securities for cannabis-related businesses and service providers. The definition of 'cannabis' incorporates the definition from the Controlled Substances Act. A 'cannabis-related legitimate business' is defined as an issuer involved in activities like cultivation, warehousing, or selling cannabis or cannabis products, operating pursuant to state or local law. A 'service provider' includes entities selling goods/services to cannabis businesses or providing business services like legal, accounting, or IT, but excludes cannabis-related legitimate businesses themselves. The safe harbor applies regardless of provisions in Section 32 of the Act, the Controlled Substances Act, or other federal laws.

What does EFFECTIVE DATE. of CLIMB Act do?

This Act will take effect 180 days after its enactment. The amendment made by this Act will also take effect 180 days after enactment.

Back to bills

CLIMB Act

Last updated: 3/18/2026 · Introduced: 3/18/2026

Author: Guy Reschenthaler (R-PA)

TL;DR (AI)

The bill prohibits federal agencies from taking adverse action against individuals or entities that provide business assistance to cannabis-related legitimate businesses or service providers.
It creates a safe harbor for national securities exchanges and market participants to list, trade, and facilitate offerings of securities for cannabis-related businesses and service providers.
The safe harbor applies regardless of provisions in other federal laws, allowing exchanges and market participants to engage with cannabis-related businesses without fear of federal repercussions.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 3 more.

5 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account