2016 LEGISLATIVE SESSION IN FULL SWING AND HEATING UP

The 2016 Legislative session is well under way and the discussions are heating up. Blinking brightly on nearly everyone’s radar is the medical marijuana issue, and the possible implications of legalizing any form of marijuana use. Under Senate Bill 89 (SB89) sponsored by Representative Daw and cosponsored by Senator Vickers, an extract of marijuana sometimes called cannabis oil, (referred to as cannabidiol in the proposed bill) would be legalized for use by people who are diagnosed with a qualifying disease and register with a state electronic verification system. The bill also legalizes the production of the extract from the marijuana plant by cannabidiol dispensaries. These dispensaries would be subject to licensure by the Division of Occupational and Professional licensing, and the Department of Agriculture.

One major hurdle to establishing businesses related to cannabidiol useiflegalized, eggsissues7is warry financial institutions. Right now, banks will not conduct transactions related to controlled substances such as marijuana. Without an adjustment to the law to protect the banks, if SB89 passes, all transactions related to cannabis oil would have to be conducted on a cash basis, and revenues resulting from cannabis sales would not be permitted in a bank account, as seen after the legalization of marijuana in Colorado. Representative Daw says finding a solution to the problem is a priority.

Senator Bramble and Representative Daw are continuing efforts to make changes to the payday loan industry. House bill 292 (HB292) introduces a number of changes to the existing code for payday lenders, otherwise referred to as “deferred deposit lenders” in the code language. The bill limits the fees lenders can charge on a loan extended payment plan by prohibiting origination, set-up, transaction, negotiation, processing, and late fees. The bill also requires lenders to present to the person receiving the loan information detailing an option to enter into an extended payment plan and the amount the person would be required to pay. The lender would also be required to obtain a credit check on any person seeking a loan from the company for the first time.
Whether through legislative action or a court decision, Utah’s laws for car sales may be changing soon.

Representative Kim Coleman has brought back a new version of her bill from last session aimed at changing the law to allow for online car dealerships like Tesla. House bill 384 (HB384) creates the ability for a person to act as an online car manufacturer dealer and to sell vehicles from an online inventory, without using an independently owned dealership.  The law currently prohibits car manufacturers from selling their cars directly to the public, requiring a dealership to conduct the transactions instead. The proposed amendment to the current law allows the online manufacturer dealer to sell new cars from only one company, paving the way for a single brand like Tesla, but not an auto mall type of establishment, and does not address used car sales.

The final 2016 Eggs and Issues breakfast will be held on March 5th at 7:30 AM in the Clark Auditorium at Utah Valley Hospital.

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