Gov. Greg Abbott signed a new law Monday that clears up which CBD products are legal in Texas and will also allow local farmers to grow hemp as a crop.
The law, which received bipartisan support in the state Legislature, goes into effect immediately.
It will allow Texas to set up a federally approved program for farmers to grow hemp as an industrial crop, including procedures for sampling, inspection and testing. It also expands the kind of hemp products that can be legally purchased in Texas to include any hemp or hemp-derived products containing less than 0.3 percent of THC, or tetrahydrocannabinol, the psychoactive compound found in cannabis plants.
This includes cannabidiol, or CBD, products. While Texans have found oils, tinctures and other CBD goods on store shelves for years, those that contained even trace amounts of THC were technically illegal here. Now, as long as these products are derived from hemp, contain less than 0.3 percent THC and meet other labeling and quality standards, they are legal.
Continue reading “Gov. Greg Abbott signs law legalizing hemp production, CBD products in Texas”
Although the upper chamber’s leadership once opposed bills that would relax the state’s pot policies, the Senate unanimously voted in favor of a bill by state Rep. Stephanie Klick, R-Fort Worth, that expands the state’s Compassionate Use Program, which currently allows the sale of cannabis oil only to people with intractable epilepsy who meet certain requirements.
The bill now heads back to the Texas House, where lawmakers can either approve the Senate changes or opt to iron out their differences in a conference committee before lawmakers adjourn in five days. Klick did not immediately respond to a request for comment on whether she’d accept the Senate changes to her bill.
Continue reading “Texas expansion of medical cannabis nears finish line after Senate approval”
New Frontier Data estimates the US hemp sales will jump to $2.6 billion. Projections divide the market into CBD sales and food, fiber, fuel.
The U.S. Drug Enforcement Administration has taken some cannabidiol out of the most restrictive class of controlled substances, a move that allows the sale of the first nonsynthetic, cannabis-derived medicine to win federal approval.
It’s a decision that immediately affects CBD producers but also signals the agency’s first admission that the plant has medical value.
The DEA announced Thursday that drugs including CBD with THC content below 0.1% are now considered Schedule 5 drugs, as long as they have been approved by the U.S. Food and Drug Administration.
It is the first time the agency has lowered any type of cannabis from Schedule 1.
Continue reading “DEA moves some CBD medicines off Schedule 1, a limited expansion of cannabis access”
Shawn McDonald of Smith McDonald Bolin explains what the current Texas laws are related to Marijuana possession and CBD oils.
He also explains how different counties are “enforcing” the law. For more information about or to ask questions related to these laws, please leave a comment below and we’ll be sure to answer them.
SB 116 (Sen. Jose Menendez) — Relating to industrial hemp; requiring an occupational license; authorizing fees.
Head on over to https://capitol.texas.gov/tlodocs/86R/billtext/html/SB00116I.htm to view Texas Bill 86(R) SB 116
This has been a transformational year for the cannabis industry, one that investors will possibly never forget. Although it’s been a bit rough on the investment front, with the Horizons Marijuana Life Sciences ETF, a basket of more than four dozen pot stocks, losing approximately 40% of its value, 2018 has been a year of gained validity for the cannabis industry.
Continue reading “Merry Christmas: Hemp and Hemp-Based CBD Are Now Legal”