Texas Governor Signs Second Amendment Financial Privacy Act

Titled the Second Amendment Financial Privacy Act, the new law prohibits a financial institution operating in Texas from requiring or assigning a firearms code, which is defined as “any merchant category code approved by the International Organization for Standardization for a firearms retailer, including Merchant Category Code 5723.”

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To the Governor: Connecticut Bill Would Eliminate State Conformity with IRS Section 280E for Marijuana Businesses

the Connecticut Senate gave final approval to a bill that includes provisions that would eliminate the state’s conformity with Internal Revenue Code (IRC) Section 280E. The enactment of this provision would represent a small, but important state tax relief for marijuana businesses despite ongoing federal cannabis prohibition.

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Now in Effect: West Virginia Law Prohibits Using Credit Card Information to Track Firearms Purchases Without a Warrant

The new law prohibits any West Virginia governmental entity from accessing or obtaining a record of a transaction involving a credit card that is retrieved, characterized, generated, labeled, sorted, or grouped based on the assignment of a firearms code without a warrant or a subpoena in most situations.

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Rhode Island House Committee Passes Bill to Legalize Possession of Psilocybin Despite Federal Prohibition

The legislation would remove criminal penalties for possessing and cultivating up to one ounce of psilocybin for personal use. The proposed law would also allow adults to share up to 1 ounce of psilocybin with other adults.

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