North Carolina General Assembly advanced a bill that will keep hemp legal in the state. Wait, what? Isn’t hemp already legal under federal law?
Although hemp farming was legalized under federal law under the 2018 Farm Bill, North Carolina had allowed hemp farming under a previous pilot program that is set to end on June 30. So, the Assembly passed the legislation which seeks to continue the cultivation of hemp for industrial products just in the nick of time.
Senate Bill 455, which aligns state hemp law with federal law, was approved in a 41-2 vote, legalizing the production and sale of industrial hemp and products like CBD. The bill is now heading to Gov. Roy Cooper’s desk for his signature reported The Associated Press.
The Senate previously passed a version of this bill, but the House removed the language from that bill.
“It’s unfortunate that for so long these farmers and small business owners have been left in the lurch,” Sen. Brant Jackson (R-Sampson) stated. “It doesn’t matter the size of the farm or the crops that are grown, I will support farmers and work to ensure they can thrive. I’m thankful that my Senate colleagues stand with farmers, and I urge Gov. Cooper to sign this legislation immediately.”
If Cooper does not sign the bill, hemp will become illegal on July 1.
The Senate also approved the 2022 Farm Act on Wednesday in a 41-2 vote. This measure redefines the difference between hemp and cannabis, describing hemp as Cannabis sativa containing 0.3% or less THC. Under this bill, hemp would be removed permanently from the state’s list of controlled substances, making it legal as well.
Photo: Benzinga; Source: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.