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A new study from an industry advocacy group in California examines the content of dozens of unregulated intoxicating “hemp” products that are easily available in the Golden State despite being banned by statelaw. The study, entitled The Great Hemp Hoax , was released Feb.
The legislation passed with two clear directives in mind: (1) regulating artificially derived cannabinoids like delta-8 THC, and (2) creating an enforcement system to ensure hemp licensees are not illegally growing marijuana. This blog post explains how these legislations developed, and ultimately led to Oregon’s hemp moratorium.
The term does not include industrial hemp, as defined in statelaw, that is grown, dealt, or processed in compliance with state or federal law, unless it has been acquired and formulated with cannabis plant extract by a pharmaceutical processor. Retail sales will not begin until January 1, 2024.
The subcommittee on cannabinoid products focuses on three issues: (1) new licensing and testing requirements for adult use cannabinoid products, (2) curtailing sales of cannabinoid products to minors, and (3) changes to statelaws regulating hemp products.
New Yorkers who want to obtain a conditional adult-use cultivator license must meet the following criteria, as laid out under statelaw: Have maintained an industrial hemp cultivation license issued by the New York State Department of Agriculture and Markets as of December 31, 2021 in good standing.
However, AB 37 will provide at least some tax relief to California cannabis businesses (from 2020-2024). In case you missed it, our hemplaws also got a tiny facelift. And at the federal level, cannabis businesses suffer constantly under the heavy weight of I.R.C. ” Vape Cartridges and Pens.
This bill essentially relaxed restrictions, allowing licensed cannabis growers to produce hemp on an industrial scale, without fear of prosecution. It also relaxed restrictions around selling hemp-derived products interstate. CBD sales market would likely exceed $20 billion by 2024. Too Early for Buyouts.
Navigating local, state, and federal regulations Although state-licensed cannabis labs are legal under statelaw, the federal government sees them in violation of federal law. However, this may change with rescheduling that is going to be revisited on Dec 2, 2024.
The Lone Star State has not passed legislation allowing for the recreational use of marijuana and has only in recent years legalized industrial hemp and some CBD products, and expanded the range of disorders treatable under the Texas Compassionate Use Act.
Hemp is Legalized Across 50 States in 2018. Following the approval of the 2018 Farm Bill, hemp and its extracts were legalized for production and sale. Yet, each state can determine the licensure and regulation of hemp products. For this reason, it is a smart idea to review statelaw before buying THC products.
The retail provisions are set to take effect on January 1, 2024, but this deadline could be expedited by lawmakers. The law took effect August 1, 2021. House Bill 1090 : Statelaw previously permitted adults to legally possess up to one ounce of either marijuana flowers or concentrates for recreational purposes without penalty.
Another extremely popular alternative has been hemp THC beverages. When we talk about hemp THC beverages, we mean beverages containing hemp-derived delta-9 THC. But wait, you may be asking, “doesn’t federal law only allow for up to 0.3% There is a federal law cap of 0.3%
On February 7, 2024, California Assembly Member Aguilar-Curry introduced AB 2223. The bill, if passed, would significantly change the state’s cannabis and hemp industries – for better or worse. Today, we’ll take a look at how AB 2223 could change both the cannabis industry and hemp industry in the Golden State.
For years, people have tried to decipher the incredibly poorly worded (I can’t stress this enough) language in the 2018 Farm Bill and what it means for intoxicating hemp products like THCA products or delta-8. In the last week or so, there’s been a lot of bad news for the intoxicating hemp products industry.
Ability to source marijuana genetic material from outside Colorado Senate Bill 23-271 , which went into effect in early 2024, aims to enhance Colorados marijuana industry. Marijuana genetics: are they hemp or marijuana? In short, under federal law, marijuana genetics appear to be hemp. state and international lines.
My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to 2014. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. We are helping build out another cannabis banking program here in Oregon.
This week: The National Credit Union Administration affirms that credit unions may provide financial services to hemp businesses. The US Department of Agriculture (USDA) has released new data indicating a substantial increase in the growth of US hemp production.
2024 is going to be a crazy year for cannabis businesses and investors. Among many other things, there will be a general election, possible rescheduling to Schedule III of the Controlled Substances Act (CSA), an upcoming Farm Bill that could re-tool how hemp and hemp products are regulated, and maybe even some federal cannabis legislation.
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