H4534
An Act regularizing accounts receivable in the cannabis industry
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- Passed House
- Passed Senate
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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, leading to potential disputes and challenges for businesses. The bill seeks to create a more predictable and transparent system for collecting and managing debts related to cannabis sales. It intends to improve financial stability and reduce legal uncertainties for cannabis businesses operating in the state.
Key provisions
- Establishes guidelines for the recognition and valuation of accounts receivable.
- Defines procedures for pursuing collections on outstanding debts.
- Addresses dispute resolution mechanisms related to accounts receivable.
- Requires cannabis businesses to maintain accurate records of accounts receivable transactions.
- Provides for potential remedies in cases of non-payment.
Who is affected
- Cannabis businesses in Massachusetts
- Financial institutions that work with cannabis businesses
- Customers of cannabis businesses
- The Massachusetts Cannabis Control Commission
- Debt collection agencies
Notable changes
- Creates a framework for standardized accounting practices.
- Clarifies the legal rights and obligations of parties involved in accounts receivable transactions.
- May streamline the process of resolving disputes related to unpaid cannabis sales.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Joint Committee on Cannabis Policy
Cosponsors
Aaron L. Saunders
Priscila S. Sousa
Arguments in favor
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Bill H.4534 194th (Current)
An Act regularizing accounts receivable in the cannabis industry
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Bill Information
Bill Information
Sponsor: Joint Committee on Cannabis Policy Status: Referred to House Committee on Ways and Means
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Bill History Cosponsors Committee Vote
Bill History
Displaying 3 actions for Bill H.4534
| Date | Branch | Action |
| 9/25/2025 | House | Reported from the committee on Cannabis Policy |
| 9/25/2025 | House | New draft of H180 |
| 9/25/2025 | House | Bill reported favorably by committee and referred to the committee on House Ways and Means |
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