The state Senate on Wednesday passed a bill to create a state-chartered bank for California cannabis businesses, which would allow licensed merchants to write checks to pay taxes, fees and vendors — rather than use large amounts of cash, as they currently do.                 The measure SB 930, introduced by state Sen. Robert Hertzberg, D-Van Nuys, now heads to the Assembly.

The state Senate on Wednesday passed a bill to create a state-chartered bank for California cannabis businesses, which would allow licensed merchants to write checks to pay taxes, fees and vendors — rather than use large amounts of cash, as they currently do. The measure SB 930, introduced by state Sen. Robert Hertzberg, D-Van Nuys, now heads to the Assembly.

California Senate passes bill to create banks for pot businesses

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The San Francisco Chronicle is the Bay Area’s premier news source, providing an authoritative voice that lends context and depth to the conflicts and changes that shape the region. Our coverage aims to make readers feel smarter about the important issues of the day. Beats are covered through the prisms of change, conflict and power, without losing sight of the quirky and eclectic stories that make the Bay Area unique. A SpokenEdition transforms written content into human-read audio you can listen to anywhere. It's perfect for times when you can’t read - while driving, at the gym, doing chores, etc. Find more at www.spokenedition.com

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California Senate passes bill to create banks for pot businesses

California Senate passes bill to create banks for pot businesses