Rep. Reschenthaler introduces bill in U.S. House to protect business assistance for cannabis industry

The new bill authored by U.S. Rep. Guy Reschenthaler in the U.S. House aims to prevent federal agencies from penalizing those who provide support to legitimate cannabis businesses, according to the U.S. Congress.

H.R.7987 was introduced on March 18, 2026 during the 2026 regular session of the 119th Congress. The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill aims to protect individuals and entities providing business assistance to cannabis-related legitimate businesses by prohibiting federal agencies from taking adverse actions against them solely for this reason. It defines “business assistance” broadly, including financial services, real estate transactions, and legal support. Additionally, the bill amends the Securities Exchange Act of 1934 to create a safe harbor for national securities exchanges, allowing them to list and trade securities of cannabis-related legitimate businesses without facing legal repercussions from federal law. This safe harbor acknowledges the legitimacy of these businesses and supports their integration into the financial market. The bill’s effective date is set for 180 days after enactment.

The bill was introduced by Rep. Guy Reschenthaler (Republican-PA-14th District) and co-sponsored by Rep. Troy A. Carter (Democrat-PA-2nd District).

Since the beginning of the current session, Rep. Reschenthaler has introduced another five bills.

Congressional bills can originate in either the U.S. House of Representatives or the U.S. Senate, except for revenue-related measures, which must begin in the House. After introduction, bills are assigned to committees for review, hearings, amendments and debate before they can advance to a vote in each chamber. If both chambers approve identical versions, the legislation is sent to the president, who may sign it into law or veto it. Congress operates in two-year terms, with each term numbered sequentially and divided into two annual sessions. The legislative process and official bill records are maintained by the U.S. Congress and published through Congress.gov.

Guy Reschenthaler is a Representative from Pennsylvania who has served in Congress since January 3, 2019. He was previously a Pennsylvania state magisterial district judge from 2013 to 2015 and a member of the Pennsylvania state senate from 2015 to 2018.

He graduated from Behrend College, Pennsylvania State University, with a B.A. in 2004 and earned his J.D. from Duquesne University in 2007. Reschenthaler also served in the United States Navy from 2007 to 2012 and pursued a career in private practice as a lawyer.

Information in this article was obtained from the U.S. Congress. The source data can be found here.