On Thursday morning, lawmakers in the Senate and House Agriculture Committees announced that they had reached an agreement in principle on the large-scale food and agriculture policy legislation also known as the Farm Bill. It has been confirmed that the much talked about hemp language made the cut. Hemp would be defined as all parts of the plant-including seeds and extracts-as long as they contain less than 0.3 percent THC. The cannabis industry says that this will big proponent to the CBD market.
If passed, the crop would be entirely removed from the Controlled Substances Act under the legislation. The Congressional Budget Office is currently scoring the bill. Once that’s complete and language is officially filed, the Farm Bill will be teed up for up-or-down votes in both chambers of Congress and, pending approval, sent to the president’s desk.