Marijuana Business Magazine March 2019

Marijuana Business Magazine | March 2019 46 Trump then signed the 2018 Farm Bill. Tucked in the $867 billion measure were seven words that forever changed the entire cannabis industry: “The term ‘marihuana’ does not include hemp.” The landmark legislation, in short, removed hemp from the Controlled Substances Act. It opens the door to billions of dollars in new sales for hemp companies—think CBD-infused bever- ages, foods and lotions plus hemp-related goodies such as seeds and energy bars as well as clothing—and the possibility of CBD further leaping out of dispensaries and headshops and into mainstream retail outlets and consumer packaged goods. The Farm Bill means cannabis plants up to 0.3% THC are now as legal as corn or cotton, including CBD and other hemp extracts. The bill’s seismic changes include several provisions that can benefit hemp and CBD companies as well as marijuana businesses keen on launching separate hemp operations. Among other things: • Hemp is eligible for federally backed crop insurance, meaning farmers who grow the plant may be able to Andy Graves, Joe Hickey and David Spalding stand in an Atalo Research Field in 2017. Photo by Media Collaboratory was no ordinary White House news conference. It started with a video from the 2006 Emmy Awards of President Donald Trump singing the theme song from the 1960s sitcom “Green Acres,” which showcased a wealthy New York City couple who decamp to the countryside to operate a ramshackle farm.

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