HEMP FARM BILL HAS PASSED
On 12/20/18, President Trump signed the 2018 Farm Bill, which would legalize Industrial Hemp.
Here are a few key Farm Bill points from Hoban Law Group's Senior Attorney Steve Schain:
- Banks and payment processors/credit card companies can service the hemp industry
- Investment and capital infusion is allowed in both the oil and fibrous hemp businesses
- Interstate commerce of hemp and hemp products is allowed
- Convicted felons can join the industry 10 years after the bill passes
- Hemp farmers will be allowed to buy crop insurance for the first time.
- Hemp futures can be traded for the first time, locking in prices for farmers
- Help research will be allowed for pharmaceutical uses as well as for health, wellness and general nutrition, opening the doors for much more testing