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Although the Congressional committee reconciling competing U.S. Senate and House versions of the Farm Bill are tight-lipped about the exact language that\u2019s been agreed upon, it sounds like the bill, now expected to be signed next week, will legalize industrial hemp.<\/p>\n
That spells good news for purveyors of hemp-derived CBD.<\/p>\n
Senate Majority Leader Mitch McConnell (R-KY), who made sure he sat on the Congressional reconciliation committee, tweeted that CBD will continue its extraordinary trajectory.<\/p>\n
\u201cThanks for your hard work, @SenPatRoberts,\u201d tweeted McConnell, \u201cfor our farmers, rural communities and all Americans. Pleased that my provision to legalize industrial hemp is included in the Farm Bill.\u201d<\/p>\n
This was confirmed by two other reconciliation committee members, Rep. Mike Conaway (R-TX) and Rep. Collin Peterson (D-MN), according to a\u00a0Bloomberg Government<\/em>\u00a0reporter, also on Twitter.<\/p>\n The hemp provision reportedly will remove hemp from the federal list of controlled substances, and hemp farmers will\u00a0be able to apply for crop insurance. Hemp must contain less than 0.3 percent THC. The bill would push hemp regulations both to the U.S. Department of Agriculture and not the Department of Justice as well as to individual states to decide whether or not they want to go forward with commercializing hemp and hemp products including CBD. States can either develop their own plans or just abide by federal regulations that are to be developed by the USDA.<\/p>\n Farmers in the U.S. have planted more than 77,000 acres in 2018, according to Vote Hemp, about three times the amount grown in 2017.<\/p>\n The farm bill removes CBD from the Controlled Substances Act, thereby removing the DEA from enforcing \u2013 mistakenly or not \u2013 CBD products. However, the farm bill does not change requirements of the Federal Food, Drug, and Cosmetic Act, which means CBD is still subject to FDA regulations. Keeping the FDA involved \u2013 outside of its role as regulator of dietary supplements \u2013 still maintains an element of risk to CBD businesses.<\/p>\n