Today, the United States Department of Agriculture (the “USDA”) released a draft interim final rule regarding the establishment of a domestic hemp production program. We expect the interim final rule to be published in the Federal Register in the next day or so, which will initiate the 60-day public comment period. This rule establishes rules to approve state and tribal plans to regulate the production of hemp pursuant to the Agriculture Improvement Act of 2018, or the 2018 Farm Bill.
Illinois Legalizes Adult-Use Marijuana
Cannabis Regulation and Tax Act
In May 2019, the Illinois General Assembly passed the Cannabis Regulation and Tax Act (the “Act”). With the Act’s passage, Illinois became the first state legislature to pass a bill that legalized both the sale and possession of recreational marijuana. The Act passed the Senate on Wednesday, May 29th
USDA Issues Legal Opinion on Hemp
On May 28, 2019, the United States Department of Agriculture (the “USDA”) and the Office of the General Counsel (the “GC”) issued a legal opinion on the status of hemp following the passage of the 2018 Farm Bill. The opinion confirms: first, hemp must be produced under the 2014 Farm Bill until the USDA creates
Clarity at Last? FDA Announces Plans for Meeting on Cannabis-Derived Compounds
On Wednesday, April 3, 2019, the U.S. Food and Drug Administration (FDA) announced plans to hold a meeting to discuss its regulatory approach to products that contain cannabis and cannabis-derived compounds, including cannabidiol (CBD). The public hearing, which is scheduled to be held on May 31, 2019, is intended to obtain scientific data and information
Colorado Poised to Pass Major Marijuana-Related Legislation
The State of Colorado has taken a major step towards opening its marijuana industry to outside investment in what could be a transformative piece of legislation.
On Monday, March 4, bipartisan legislation unanimously passed the House Committee on Finance that would allow for an increase in marijuana investment in Colorado. The legislation seeks to address the need for investment dollars while maintaining strict regulations and oversight of the industry. The legislation removes the statutory requirement of background checks for owners of less than 10% of a marijuana business, thus opening the state’s marijuana market to outside investors as well allowing marijuana businesses to offer their employees equity in the company. In addition, the legislation outlines requirements for publicly traded companies to both invest in licensed marijuana businesses and to hold Colorado marijuana licenses. The legislation will next face a floor vote, where it is widely believed to have the support needed to pass, then it will go to the Senate and if passed, on to the state’s governor for final passage.
How the Agricultural Improvement Act of 2018 Affects the Cannabis Industry
Yesterday, Laura A. Labeots, Ph.D., J.D., posted an update on the significant changes to the Agricultural Improvement Act of 2018 on our Food & Agribusiness blog.
What does this post mean for the cannabis industry?
Since much of cannabis is asexually produced, it appears that marijuana and industrial hemp cultivators can utilize the Plant
2018 Farm Bill: Opportunities in Hemp
Check out a recent article from myself and my colleague, Ben Jones, on the 2018 Farm Bill.
Industrial Hemp: On the Brink of Legalization
After a lengthy compromise process, The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) was passed on December 12, 2018 by Congress and delivered to the White House for the President to sign. The 2018 Farm Bill will replace the Agriculture Improvement Act of 2014, which expired on September 30, 2018. Distributing more than $850 billion, the 2018 Farm Bill is an enormous piece of legislation and funds programs such as crop insurance, school lunches, and the Supplemental Nutrition Assistance Program (SNAP).
Integrated into the massive omnibus Farm Bill is the bipartisan Hemp Farming Act of 2018, spearheaded by Senator Mitch McConnell. The Hemp Farming Act will legalize at the federal level the production of industrial hemp, defined as Cannabis sativa L. plants containing less than three-tenths of a percent of THC, the intoxicating chemical in marijuana. The low concentration of THC makes these plants unsuitable for marijuana production, which remains federally illegal.
First and foremost, the 2018 Farm Bill will abolish this inconsistent treatment by removing industrial hemp from the definition of “marihuana” in the Controlled Substances Act (CSA). In addition, tetrahydrocannabinols contained in industrial hemp will be removed from the purview of the CSA. This amendment to the CSA will decriminalize the production and use of the Cannabis sativa L. plant and its derived products that match the definition of industrial hemp, such as hemp seed oil, CBD oil, hemp fibers and hemp paper.
Cannabis-Related Local Ballot Measures Hit All-Time High in California
Ballotpedia.com maintains a database of local ballot measures extending back to the beginning of the century. According to the website, there have been 164 cannabis-related local ballot measures in California since 2000. Amazingly, 77 of them—or 47 percent—appeared this year, a remarkable spike in number.
Constellation Invests Additional $4 Billion in Canadian Marijuana Company
What does this mean?
Investment continues to be poured into Canadian marijuana companies listed on US stock exchanges (See Tilray