If passed, the bill would remove marijuana from the schedule 1 section of the Controlled Substance Act, remove restrictions on the import and export of marijuana enacted by the Controlled Substances Import and Export Act and conform any other necessary amendments.
The bill would also establish a Community Reinvestment Fund to reinvest in communities most affected by the war on drugs. The fund would be available to the Secretary of Housing and Urban Development and would be used for a number of things including job training, reentry services, public libraries, and community centers.
The fund would be appropriated $500,000,000 every fiscal year and the money would be available with out any fiscal year limitations.
All federal courts would have to issue an order expunging all federal marijuana convictions filed before the date the bill is passed. Any individual imprisoned for federal marijuana conviction before the bill is passed would be given a hearing after the expunge order and be re-sentenced as if the Marijuana Freedom Act had been in effect at the time of their conviction.
The bill also seeks to address the disproportional arrest and convictions in states without legal marijuana laws by punishing said states. Under the Marijuana Freedom Act, states with disproportionate arrest for minorities and non-minorities and low income and high income individuals would see a reduction of no more than 10 percent of fund from the Omnibus Crime Control and Safe Streets Act of 1968. All funds withheld would then be deposited into the Community Reinvestment Fund.