Gov. Jared Polis and 20 other governors sent a letter Monday, urging Congress to pass legislation to allow state-licensed cannabis-related businesses to operate under the national banking system.

The effort was led by Polis in support of the Secure and Fair Enforcement (SAFE) Banking Act of 2021, which would protect banks that service state-legal cannabis businesses from being penalized by federal regulators.

“(We) are urging Congress to make the common sense decision to allow state-licensed cannabis-related businesses to have normal bank accounts,” Polis said. “Colorado has been a model of the success of these businesses and it’s well past time that we allow them to join our banking system.”

The SAFE Banking Act, introduced by Colorado Rep. Ed Perlmutter, was approved by the House of Representatives Monday in a 321-101 vote. It will now be considered by the Senate.

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This is the fourth time the SAFE Banking Act has been approved by the House with bipartisan support since it was first introduced in 2019, with all previous efforts failing to pass the Senate.

“The SAFE Banking Act is a big deal for the thousands of employees, businesses and communities who’ve been forced to deal in cash,” Perlmutter said. “It’s past time to align state and federal law on this issue.”

The letter states that all signing governors support passage of the SAFE Banking Act or similar legislation that would allow banks and credit unions to provide services to state-licensed cannabis-related businesses.

“Without banking services, state-licensed cannabis businesses are unable to write checks, make and receive electronic payments, utilize a payroll provider, or accept credit and debit cards,” the letter reads. “Cash only businesses pose a significant public safety risk to customers and employees.”

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The letter also points to laws and regulations that have already been implemented on the state level to ensure accountability of the cannabis industry.

Currently, 36 states, four U.S. territories and the District of Columbia have legalized the medical use of cannabis. Of those, 18 states, two territories and the District of Columbia have also legalized recreational cannabis use by adults 21 and older.

In addition to Polis, the letter was signed by the governors of California, Connecticut, Illinois, Louisiana, Maine, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Dakota, Oregon, Pennsylvania, Utah, Virginia, Washington, West Virginia, Wisconsin and the U.S. Virgin Islands.