Senate Minority Leader Chuck Schumer on Thursday stated he intends to reintroduce his bill to take away marijuana from the U.S. controlled substances list, a move that would permit states to regulate cannabis with out worry of federal interference.

Rep. Hakeem Jeffries, a Democrat from New York, will introduce the Home version of the bill – known as the Marijuana Freedom and Chance Act.

In addition to removing marijuana from the Controlled Substances Act, the measure would earmark a percentage of sector revenue tax revenues for smaller loans for girls- and minority-owned cannabis corporations.

Schumer, also a New York Democrat, very first introduced the bill final June.

That version collected nine co-sponsors in the Senate.

Complete marijuana reform is anticipated to face an uphill battle, specially in the Republican-controlled Senate.

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