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

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