S82
An Act regularizing accounts receivable in the cannabis industry
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Bill overview
This bill aims to establish clearer rules and procedures for handling accounts receivable within the Massachusetts cannabis industry. Currently, there’s a lack of standardized practices, which can create challenges for businesses in collecting payments from customers. The legislation seeks to provide a more defined framework for these transactions, potentially improving financial stability and transparency within the industry. It’s intended to address existing uncertainties and inconsistencies in how accounts receivable are managed.
Key provisions
- Establishes guidelines for documenting and tracking accounts receivable.
- Defines procedures for resolving disputes related to unpaid invoices.
- May include requirements for reporting accounts receivable data to state authorities.
- Could establish standards for accepting various forms of payment.
- Potentially addresses issues related to late payments and collections.
- May clarify the responsibilities of cannabis businesses and their customers regarding accounts receivable.
Who is affected
- Cannabis businesses in Massachusetts
- Customers of cannabis businesses
- Financial institutions that work with cannabis businesses
- State regulatory agencies overseeing the cannabis industry
Notable changes
- Addresses the current lack of standardized procedures for accounts receivable in the cannabis industry.
- Could lead to greater financial transparency within the sector.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
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Bill S.82 194th (Current)
An Act regularizing accounts receivable in the cannabis industry
By Mr. Gomez, a petition (accompanied by bill, Senate, No. 82) of Adam Gomez for legislation to regularize accounts receivable in the cannabis industry. Cannabis Policy.
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Bill Information
Bill Information
Presenter: Adam Gómez Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Primary Sponsor Summary
Bill History
Displaying 5 actions for Bill S.82
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Cannabis Policy |
| 2/27/2025 | House | House concurred |
| 7/9/2025 | Joint | Hearing scheduled for 07/22/2025 from 10:30 AM-01:00 PM in B-2 |
| 7/9/2025 | Joint | Hearing rescheduled to 07/22/2025 from 10:30 AM-01:00 PM in A-2 |
| 12/29/2025 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
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