CLAIM Act
The source supplies the latest action, but no lifecycle stage.
Latest action (21 Jul 2026): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
What this bill does
S. 5049, the "Clarifying Law Around Insurance of Marijuana Act" (CLAIM Act), would create federal protections for insurance companies that do business with cannabis-related businesses in states where cannabis is legal. Specifically, it would bar federal agencies from prohibiting, penalizing, or discouraging insurers from providing coverage to cannabis-related legitimate businesses, or from canceling or downgrading policies solely because a policyholder works in or owns such a business. It would also shield insurers, and their officers, directors, and employees, from federal liability solely for providing insurance services to cannabis businesses operating legally under state, local, or tribal law. The bill separately directs the Government Accountability Office to study barriers minority-owned and women-owned cannabis businesses face in entering the market and accessing financial services, and to report findings and recommendations to Congress.
The bill primarily affects insurers and insurance-related businesses that serve, or wish to serve, the cannabis industry, as well as cannabis growers, manufacturers, sellers, and related service providers, employees, and property owners who lease space or equipment to them. It does not require insurers to offer coverage to cannabis businesses, and it does not override existing insurance regulation under the McCarran-Ferguson Act or the Dodd-Frank Act.
The bill was introduced on July 21, 2026, by Senator Kevin Cramer, with Senator Ruben Gallego as a cosponsor, and referred to the Senate Committee on Banking, Housing, and Urban Affairs. As an introduced bill, it would need to be considered and approved by that committee, then pass the full Senate and House, and be signed by the President before becoming law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
21 Jul 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Common questions
- What does S. 5049 do?
- S. 5049, the "Clarifying Law Around Insurance of Marijuana Act" (CLAIM Act), would create federal protections for insurance companies that do business with cannabis-related businesses in states where cannabis is legal. Specifically, it would bar federal agencies from prohibiting, penalizing, or discouraging insurers from providing coverage to cannabis-related legitimate businesses, or from canceling or downgrading policies solely because a policyholder works in or owns such a business. It would also shield insurers, and their officers, directors, and employees, from federal liability solely for providing insurance services to cannabis businesses operating legally under state, local, or tribal law. The bill separately directs the Government Accountability Office to study barriers minority-owned and women-owned cannabis businesses face in entering the market and accessing financial services, and to report findings and recommendations to Congress. The bill primarily affects insurers and insurance-related businesses that serve, or wish to serve, the cannabis industry, as well as cannabis growers, manufacturers, sellers, and related service providers, employees, and property owners who lease space or equipment to them. It does not require insurers to offer coverage to cannabis businesses, and it does not override existing insurance regulation under the McCarran-Ferguson Act or the Dodd-Frank Act. The bill was introduced on July 21, 2026, by Senator Kevin Cramer, with Senator Ruben Gallego as a cosponsor, and referred to the Senate Committee on Banking, Housing, and Urban Affairs. As an introduced bill, it would need to be considered and approved by that committee, then pass the full Senate and House, and be signed by the President before becoming law.
- Has S. 5049 become law?
- The source does not supply a confirmed lifecycle stage for S. 5049. Check the latest action and official source below.
- Who sponsored S. 5049?
- S. 5049 was sponsored by Sen. Cramer, Kevin [R-ND] (R-ND), with 1 cosponsor.
- What's the latest action on S. 5049?
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (21 Jul 2026).
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