California lawmakers approve two marijuana bills, kill hemp regulations

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(This story has been updated to note the correct number for Assembly Bill 1872.)

On the final day they could approve bills this year, California lawmakers gave the go-ahead to a pair of marijuana measures but shelved a potentially major piece of hemp legislation.

The two marijuana measures that won approval were:

  • Assembly Bill 1872, which freezes the state’s ability to raise tax rates until July 2021 (the language was identical to a bill identified in a story from last week, Senate Bill 827, and has the same effect).
  • Assembly Bill 1525, which guarantees financial institutions won’t face repercussions from the state for granting services to cannabis companies.

But a bill that would have established a host of new hemp industry rules was tabled after an outcry from both hemp farmers and marijuana industry insiders who viewed the measure unfavorably for various reasons.

Assembly Bill 2028, which had been awaiting a major amendment since the changes were first released on Aug. 24, was neither amended nor approved before the legislative deadline.