8A78013208D9BD548725822400747380 Hearing Summary

Senators Neville and Jahn introduced Senate Bill 18-021 concerning a marijuana closed loop payment system pilot project. The bill requires the Marijuana Enforcement Division to establish a pilot payment processing program to be used for marijuana transactions. The sponsors provided Amendment L.001 to the committee (Attachment C) and discussed the purpose of the amendment.

Jenifer Waller, Colorado Bankers Association, spoke in opposition to the bill.

Zane Gilmer, representing himself, spoke in opposition to the bill. He responded to questions from the committee.

Barbara Walker, Independent Bankers of Colorado, spoke in opposition to the bill.

Ryan Parsell, Colorado Treasurer's Office, spoke about the bill. He responded to questions from the committee.

Larry Lipman, Alliance Financial Network, spoke in support of the bill. He responded to questions from the committee.

Jason Warf, Southern Colorado Cannabis Council, spoke in support of the bill.

Shaunt Sarkissian, representing himself, spoke in support of the bill.

Dante Tosetti, Cortex MCP, spoke in support of the bill.

Jessica LeRoux, representing herself, spoke in opposition to the bill.

Nick Lovuolo, representing himself, spoke in opposition to the bill.

Mr. Sarkissian returned to the table to respond to questions from the committee.

Jim Burack, Marijuana Enforcement Division, responded to questions from the committee.

Senator Neville asked to lay the bill over. The chair called for a recess.

Senator Tate announced that the bill is laid over for action until February 5, 2018.