Marijuana news out of New York and California started the week off on a high note as the New York State Senate unanimously passed legislation to add opioid abuse to the list of qualifying conditions for the state’s medical marijuana program. Meanwhile in California, the Assembly Banking Committee passed SB 930 by a 10-0 vote in support of state-chartered banks for licensed marijuana businesses.

From the Big Apple to the Golden State, here’s a closer look at Monday’s noteworthy legislative headlines.

New York Senate Embraces Medical Marijuana for Opioid Addiction

The New York State Senate unanimously passed S8987A, which would allow the use of medical marijuana for the treatment of substance use disorder or as an alternative to opioids for the treatment of pain.

The bill , sponsored by Republican state Sen. George Amedore, passed the state Senate with a 62-0 vote, with one senator excused.

“We continue to look for ways to address the heroin and opioid epidemic,” noted Amedore. As Chairman of the Senate Task Force on Heroin and Opioid Addiction, Amedore is cognizant that medical marijuana could play a “critical” role in reducing the deadly impact of opioids for his constituents. “It will help patients, reduce the number of highly addictive opioids in circulation, and ultimately, it will save lives,” Amedore said in a press release Monday, June 18, 2018.

“Under New York State’s Compassionate Care Act, which went into effect in January 2016, medical marijuana can be used for the treatment of debilitating diseases, or conditions that cause chronic pain. This bill amends the public health law to allow for the use of medical marijuana to treat substance use disorder, or for the treatment of pain as an alternative to opioids.”

The bill now heads to the Assembly.

California Cannabis Banks Unanimously Passed by Committee

Legislation that would allow for the creation of California’s limited-chartered banks and credit unions was unanimously passed Monday, June 18, 2018, by the Assembly Banking Committee. Introduced by Democratic state Sen. Bob Hertzberg, SB 930 will receive a hearing before the Assembly Business and Professions Committee at 9 a.m. on Tuesday, June 26, 2018.

The bill seeks to allow the billion-dollar industry access to banks and credit unions with limited-charter licenses. Overseen by the Department of Business Oversight, the banks would be permitted to issue special checks that could be utilized for payment of state or local taxes, rent on property associated with California marijuana businesses.

“California can’t wait to take action,” Fiona Ma, a member of the California Board of Equalization, wrote in a May 2018 press release. The Board of Equalization oversees taxation in California. “With secure banking for cannabis through SB 930, the industry will benefit, the state will get a revenue boost and pot cash will get off our streets.”