The bill includes The Hemp Farming Act of 2018, which officially removes industrial hemp from the federal list of Schedule I controlled substances.
It appears in a major law on agriculture that was adopted by a clear majority in the House of Representatives (369-47) after comfortably passing the Senate (87-13) the day before.
President Trump is expected to sign the bill into law next week. Furthermore, this confusion has kept some investors (many in the US) on the sidelines.
No assurance can be given as to whether hemp will ultimately become federally legal in the US and legal in the State of Texas or elsewhere.
Hemp has always been prized for its fiber and is the source of the increasingly popular CBD, an oil thought to have medicinal qualities that is used in a host of products. Though the President has expressed his favor, the final decision has not been completely confirmed until his pen inks the deal so this continues to be a developing story. "This full legalization provides economic opportunity for farmers across rural OR and rural America-good for jobs, good for our communities, and just good common sense". In anticipation of the passage of this landmark legislation, over the last several months, we have undertaken broad and extensive foundational work to ensure Village Farms can move quickly, aggressively and profoundly. Sort of. In the bill, hemp is defined as "the plant cannabis sativa L, or any part of that plant, including seeds, derivatives, and extracts, with a delta-9 tetrahydrocannabinol (THC) concentration of not more than 0.3 percent on a dry weight basis". Trump and conservatives had pushed to create new work requirements for food stamps, but the Senate rejected the idea.
"Making it official with my hemp pen", he tweeted out Monday in advance of Senate approval of the bill.
Lawmakers have reached an agreement on the farm bill, a mammoth package that will fund key safety net programs for the next five years.
A provision within the proposed rules prevents lawmakers from forcing a vote for the rest of the year on any resolution that attempts to cut off support for Saudi Arabia in Yemen.
The change means an industry already seeing explosive growth is likely to grow more.
"As I said in my floor speech, rural America is facing so many challenges and this bill goes a long way toward providing needed certainty to farmers and ranchers", Peterson said.
Numerous provisions worked on by Thune have to do with conservation, and more specifically the Conservation Reserve Program (CRP), which pays farmers to not use environmentally-sensitive land for agricultural production.
The bill also provides permanent funding to help veteran farmers and farmers who are minorities.
But aside from that, Boehm says, this iteration of the perennial farm bill "somehow manages to suck even more than most." Why? The program will survive under the final version of the bill, aides said.