CCMA Political greenBrief
Friday, December 14, 2018
State Sen. Don Coram Walks Through His Hemp Field; With The Federal Passage Of The Farm Bill, More Farmers May Grow Legal Hemp.
“The biggest concern (of the bill) is the funding aspect. We want to be setting ourselves up for future farm bills so that we can grow. The way that this bill funds those programs doesn’t do that.”
Alyssa Charney, Of The National Sustainable Agriculture Coalition, On The Passage Of The Farm Bill
“For too long, the outdated ban on growing hemp has hamstrung farmers across the country. Hemp products are made in America, sold in America, and consumed in America. Now, hemp will be able to be legally grown in America, to the economic benefit of consumers and farmers nationwide.”
Oregon Sen. Ron Wyden, The Lead Democratic Supporter Of The Hemp Legislation
Hemp-Based CBD Products Poised To Explode Waiting On Impending Hemp Farm Bill (USA – Hemp Industry)
PR Newswire (December 12, 2018) Even though this year’s farm bill has been delayed, everyone is closely monitoring events lately as hemp and hemp-derived CBD is likely to become federally legal in the U.S. as early as next week. The CBD market, already generating annual revenues in the millions, is poised for another massive boost with the impending passing of the 2018 Farm Bill as investors expressed optimism. Effectively legalizing CBD, the market is projected to explode as obstacles are lessened or completely nixed, allowing companies to maximize their earnings potential with respect to CBD-based products.
Why The U.S. Cannabis Industry May Witness A $20 Billion Boom (USA – Cannabis Industry)
Fortune (December 13, 2018) The farm bill would make industrial hemp a lawful agricultural commodity. The hemp legislation introduced by Senate Majority Leader Mitch McConnell of Kentucky earlier this year would allow states to become the primary regulators of hemp cultivation, enable researchers to apply for federal grants and make hemp eligible for crop insurance. With that, the U.S. cannabis industry could grow to $20 billion by 2022 from $800 million this year.
What The 2018 Farm Bill Means For The West (USA – Hemp Farming)
High Country News (December 13, 2018) It will be federally legal to grow hemp. Sen. Mitch McConnell, the Republican poster child for industrial hemp, was able to pass his provision reclassifying the crop as a commodity into the final writing of the bill, which is big news for fledgling hemp growers in Western states like Colorado, Oregon and California. The crop is seen as a possible agricultural savior for farmers, but growth in the industry has been hampered by federal rules banning hemp growers from accessing water rights and bank loans. Now that industrial hemp will be legalized on the federal level, it will be easier for growers to cultivate the crop much like any other commodity, and qualify for benefits like crop insurance.
Final California Marijuana Regulations: ‘Wins, Losses And More Ambiguity’ (CA – State Regulations)
Marijuana Business Daily (December 13, 2018) California regulators have wrapped up their third and final version of new regulations governing the state’s multibillion-dollar cannabis market, drawing mixed reviews from industry experts who’ve been closely watching the rulemaking process since it began over the summer. Regulators made only minor changes to the proposed rules they issued in October. They released their first draft of the rules in July and then rewrote them in the months that followed.
California Department of Tax and Fee Administration – Adoption of Proposed Emergency Cannabis Tax Regulation 3702 (CA – State Regulations)
Bureau Of Cannabis Control (December 11, 2018) The California Department of Tax and Fee Administration has adopted proposed emergency Cannabis Tax Regulation 3702, California Cannabis Track-and-Trace, to require the wholesale cost and retail selling price of cannabis and cannabis products to be recorded in the California Cannabis Track-and-Trace system. After submission of the proposed emergency regulation to the Office of Administrative Law (OAL), OAL will allow interested persons five calendar days to submit comments on the proposed emergency regulation
Fresno Greenlights Medical Cannabis Dispensaries (CA – Cannabusiness)
The Fresno Bee (December 13, 2018) The city of Fresno is open for cannabis business — as long as it’s medicinal. The City Council on Thursday approved cannabis business regulations that allow for two medicinal dispensaries in each council district and establish “hubs” along Highway 99 and Highway 180 for commercial activities such as cultivation, manufacturing and distribution.
Cannabis Fuels Humboldt County Comeback (CA – Cannabis Industry)
Green Market Report (December 13, 2018) Humboldt County in California has seen its fair share of boom and bust cycles. From gold mining to logging, this county continues to reinvent itself. Now it’s cannabis that is fueling the county and specifically the town of Eureka’s latest boom. Rob Holmlund, the Director of Community Development in Eureka California tells the Green Market Report how the area has been transformed by the cannabis industry that has brought meaningful jobs to the residents.
OPINION: Marijuana Federalism’s Time Has Come (USA – Cannabis Industry)
Reason (December 13, 2018) Today, 33 states have legalized medical marijuana while ten have legalized recreational marijuana. The majority of Americans now live in states where some type of marijuana is legal. Further proof of changing attitudes is that in 2016, Donald Trump’s stated support for respecting state’s authority over marijuana policy not only did not damage his campaign, it did not even cost him support from the religious right. Congress should protect states right to nullify federal anti-marijuana laws by passing the STATES Act.
3 Pot Stocks To Watch On Farm Bill & News from Trump, May, Retail Earnings (USA – Cannabis Investments)
Yahoo! Finance (December 12, 2018) U.S. stocks were sharply higher on Wednesday morning, with Wall Street reacting positively to a pair of trade war headlines. he House and President Trump are expected to support the bipartisan compromise that would prove billions of dollars in subsidies to American farmers. The bill also includes language that would legalize the production of hemp throughout the United States. This has cannabis investors excited, as it offers a potential path to the American market for producers with a strategy focused on hemp.
As The Revolving Door Turns, A Capitol Fixer Is Poised To Ascend With Gavin Newsom—And Legal Weed (CA – Cannabis Industry)
CalMatters (December 12, 2018) Like any big-money industry, cannabis businesses are lobbying for laws and regulations to help them succeed. The next governor could shape the potentially lucrative marketplace based on who he appoints to oversee regulations, or whether he signs laws to, for example, decrease taxes on marijuana or create a cannabis-friendly state bank allowing an alternative for what is now an all-cash industry. Rules nearing final approval already are generating complaints from small farms and cities that they favor large growers and cannabis delivery companies.