After a extended stalemate between Congress and the Senate, representatives of the United States government will meet this morning ahead of the September 31, 2018 deadline to discuss their disagreements on food stamps subsidies within the 2018 Farm Bill. Within the new bill resides the Hemp Farming Act which when passed will reschedule industrial hemp as an agricultural commodity throughout the country.
Industrial hemp has been illegal in the United States for almost 100 years and yet Americans are one of the largest consumers of products derived from the plant in the world. The Hemp Farming Act was first introduced by Republican Majority Senate Leader Mitch McConnell who believes strongly that hemp will become a new cash crop for farmers in the United States.
The passing of the 2018 Farm Bill would be a monumental shift for those involved in the cultivation, processing, and manufacturing of hemp derived products and cannabinoid extracts, such as the non-psychoactive Cannabidiol compound (CBD).
SECTION 1. SHORT TITLE.
This Act may be cited as the “Hemp Farming Act of 2018”.
SEC. 2. HEMP PRODUCTION.
The Agricultural Marketing Act of 1946 (7 U.S.C. 1621 et seq.) is amended by adding at the end the following:
“Subtitle G—Hemp Production
“SEC. 297A. DEFINITIONS.
“In this subtitle:
“(1) HEMP. —The term ‘hemp’ means the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis.
It is only a matter of time before the Senate and Congress agree on revised terms of the bill. A positive takeaway for the industrial hemp industry is that the two sides aren’t discussing changing in relation to passing the Hemp Farming Act. In fact the legalization of hemp has gained an extensive amount of bipartisan support.
As the industry waits for the launch of legal hemp operations in the United States, companies will continue to operate under laws in progressive states such as Oregon, Washington, and Colorado. In the end, the legalization of the industrial hemp will become a profitable commodity for farmers but, it will also provide the United States with a resource with a wide range of eco-friendly and sustainable applications.
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