Cannabidiol, also known as CBD, is one of the 60 naturally occurring compounds found in Cannabis. Unlike THC (tetrahydrocannabinol), CBD is non-psychoactive and does not cause any feelings of getting high if consumed. CBD is derived from hemp, which will be legal in all 50 states if the 2018 Farm Bill is passed.
What is the Farm Bill?
During the Great Depression, prices of crops were plummeting. To address the concerned farmers and to help them stay in business, the first Farm Bill was passed in 1933.
Today, the Farm Bill is a complex, multifaceted piece of legislation that shapes federal agricultural and food policy addressing everything from international trade of farm products to the management of our national forests.
Why the 2014 Farm Bill Was Important
As one of the biggest advocates for the Hemp Industry, Senator Majority Leader Mitch McConnell is on the Farm Bill’s congressional conference committee.
Up until 2014, the United States made industrial hemp illegal until an amendment driven by Leader McConnell to the 2014 version of the Farm Bill allowed growing by state-run hemp research programs under limited circumstances.
The state-based programs set up under this legislation varied in that some only allowed university research and others allowed a limited number of everyday farmers. Federal prohibition on the crop placed many restrictions on its cultivation during the pilot period. For example, the bill limited the number of acres farmers could legally plant and before any plants were grown, farmers needed to obtain a waiver from the Drug Enforcement Agency (DEA). In all, the bill allowed for approximately 25,000 acres of hemp to be grown under these state programs, mostly in more lenient states like Colorado and Kentucky.
The pilot program was deemed a success with at least 19 states participating. Additionally, since 2014, at least 40 states have since passed legislating regarding hemp cultivation such as addressing issues of licensing and seed certification.
What’s in the New Farm Bill Regarding CBD?
McConnell’s amendment to the 2018 Farm Bill would officially remove hemp from the DEA’s list of controlled substances, ending a decades long debate of the legal status of the plant.
Given hemps increased use in pharmaceuticals and textiles, with the Farm Bill set to expire on September 30th, American hemp producers are closely watching Congress.
If the new Farm Bill is passed, and hemp crop is legalized under federal law, it will allow CBD to be legally sold in all 50 states. Its full legalization would fundamentally alter hemp producers’ access to financial service benefits like federal crop insurance and it would open the floodgates for investment opportunities.
While it’s possible hemp could be come legal through other methods, such as a stand-alone bill, hemp supporters are hopeful that the conference backs the new version of the 2018 Farm Bill.
Not Everyone Supports the Hemp Industry
While the Hemp and CBD Industry are supporting the new 2018 Farm Bill’s hemp amendment, there are some who object to hemp-only legalization bills. Their position is that its unjust to allow some growers to profit off the cannabis plant while growers and users of psychoactive cannabis are arrested and given prison time.
Time is of the Essence
Every five years or so Congress renews and or revises the Farm Bill. The 2014 Farm Bill expired on September 30th, 2018. Congress will need to pass a new version before month end or $430 billion in funding for numerous important programs at the US Department of Agriculture (USDA) will be left unfunded.
About Leaf Vertical, Inc.
Leaf Vertical Inc. is an innovative, clinical-stage biopharmaceutical research company, committed to discovering and developing novel therapeutics from its proprietary cannabinoid product platform.
For more information on Leaf Vertical or its Cannabinoid (CBD) clinical trials, use in the treatment of specific types of malignancies related to glioblastoma, myeloma, gastrointestinal, and breast cancer, when administered in conjunction with Standard of Care, please contact Leaf Vertical by phone at 407-776-9217 or visit the company’s headquarters at 805 S. Kirkman Rd, Suite 202, Orlando, Florida 32811.