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420 with CNW — Congressional Legislators to Hold Hearing Focused on Hemp

House Agriculture Subcommittee on Biotechnology, Horticulture and Research members are scheduled to meet this week to discuss expanding hemp regulations in the 2023 farm bill package. Hemp was federally legalized under the 2018 farm bill, which opened up a marijuana market that expanded rapidly. Stakeholders and advocates involved in the industry are now focused on ways to build upon the current hemp regulations through the next large-scale agriculture measure.

Representative David Scott, the full committee’s chair, earlier stated that he felt that the farm bill’s next edition needed to extend beyond hemp and include provisions that dealt with cannabis-specific policies, which would eliminate marijuana industry barriers for black small businesses and entrepreneurs. One of the subcommittee’s members, Rep. Chellie Pingree, also filed a measure in February that would offer hemp businesses more regulatory flexibility as well as eliminate a ban that prevents individuals with previous drug convictions from participating in the hemp market.

A report by the Congressional Research Service also highlighted components in the 2018 farm bill and made policy recommendations for hemp to be considered in the future. For instance, the report outlines stakeholder feedback that asked for the federal definition of hemp to be revised by increasing the allowable limit of THC to 1% per dry weight from 0.3%. The Congressional Research Service also stated that Congress needed to consider industry complaints about the absence of FDA regulations to market CBD products derived from hemp and highlighted possible steps that could be taken to address the issue.

Meanwhile, leaders of the House Appropriations Committee recently released a spending bill for the United States Department of Agriculture (USDA) that asks that various agencies coordinate to develop guidance on the manufacture of hemp. The bill also recommends that the USDA work with the United States Drug Enforcement Agency (DEA) to resolve any worries about enforcement actions for hemp that exceeds the current THC limit.

In Congress, Representatives Morgan Griffith and Kurt Schrader filed a measure earlier this year that is aimed at allowing hemp and CBD derived from hemp to be sold as dietary supplements.

Senators Jeff Merkley, Rand Paul and Ron Wyden also introduced a measure in the Senate that would exempt hemp, hemp-derived CBD or any other substance containing ingredients derived from hemp from restrictions that have impeded the emergence of legal consumable hemp products. Paul also filed a separate initiative in 2021 that would triple the concentration of THC that hemp could contain legally.

As the regulations around hemp are examined with a view to revising them so that they can be more industry friendly, cannabis industry actors such as American Cannabis Partners would also benefit from a federal review of the laws governing marijuana at the federal level.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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