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California Hemp Bill Could Provide New Opportunities For Marijuana Firms

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California hemp bill could provide new opportunities for marijuana firms

Published 5 seconds ago | By John Schroyer

Two bills in the California Legislature that would establish a new regulatory framework for hemp-infused goods – including CBD-laced foods and drinks – are poised to become law this year, which could jump-start the state’s nascent hemp industry and likely give marijuana businesses an opportunity to expand into a federally legal crop.

But few in the hemp and marijuana industries are happy, and the bills are likely to be amended.

Assembly Bill 45 and Senate Bill 235 – which are identical and moving along parallel paths – have the support of Gov. Gavin Newsom and many legislators, sources told MJBizDaily.

Assembly member Cecilia Aguiar-Curry, the primary sponsor in the lower chamber, gave the measures a “95%” chance of becoming law this year.

If either bill passes, the state’s hemp market could grow significantly, and if they’re amended, as advocates hope, licensed marijuana businesses could have more opportunity to capitalize on hemp and CBD products. 

“These bills will be game changers as far as opening up the broader hemp industry in the state of California,” said Eddie Bernacchi, director of the California Hemp Council, noting that passage could pave the way for hemp-infused goods to be sold at convenience stores or in supermarkets.

Yet, several provisions will likely elicit amendments, according to hemp and marijuana executives.

Problematic provisions

For hemp farmers, a proposed ban on smokable hemp flower is a major problem.

Source: https://mjbizdaily.com/california-hemp-bill-could-provide-new-opportunities-for-marijuana-firms/

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