According to the press release, the bill hopes to accomplish six major goals:
1) Recognize States' Responsibility to Set Medical Marijuana Policy & Eliminate Potential Federal Prosecution
The CARERS Act amends the Controlled Substances Act so that states can set their own medical marijuana policies. The patients, providers and businesses participating in state medical marijuana programs will no longer be in violation of federal law and vulnerable to federal prosecution.
(2) Reschedule Marijuana from Schedule I to Schedule II, Recognizing "Accepted Medical Use"
Marijuana is currently listed as a Schedule I drug, meaning it does not currently have accepted medical use in the United States. The CARERS Act moves it to Schedule II, recognizing what Americans already know: marijuana has a legitimate medical purpose.
(3) Allow States to Import Cannbidiol (CBD), Recognized Treatment for Epilepsy and Seizure Disorders
The CARERS Act amends the Controlled Substances Act to remove specific strains of CBD oil from the federal of definition of marijuana. This will allow youth suffering from intractable epilepsy to gain access to the medicine they need to control their seizures.
(4) Provide Veterans Access
Doctors in Department of Veterans Affairs facilities are currently prohibited prescribing medical marijuana. The CARERS Act would allow VA doctors to recommend medical marijuana to military veterans.
(5) Permit Financial Services and Banking for Marijuana Dispensaries
Right now, medical marijuana business is a cash business. The CARERS Act provides a safe harbor to banks and credit unions, their officers and employees that provide financial services to marijuana-related businesses that engage in activities pursuant to state law.
(6) Expand Opportunities for Research
The CARERS Act removes unnecessary bureaucratic hurdles for researchers to gain government approval to undertake important research on marijuana.