Despite Industry Protests, Texas GOP Wants Intoxic
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Posted On: 07/30/2024 5:43:52 PM
Despite Industry Protests, Texas GOP Wants Intoxicating Hemp Banned
The consumable hemp industry in the state of Texas is valued at an estimated $8 billion. When legislators drafted a law to legalize hemp in 2019, they didn’t consider the fact that intoxicating hemp could find its way to the market. At the time of enactment, CBD was the most common compound derived from hemp. This compound is known for not inducing a high when ingested, and it possesses medicinal properties.
However, the industry’s growth allowed for the proliferation of intoxicating hemp, which induces highs when consumed. Currently, intoxicating compounds derived from hemp that are made into products such as drinks, candies and vape pens are legal at both the state and federal level. This comes after the 2018 Farm Bill legalized industrial hemp production and permitted consumable hemp products, creating a loophole that allowed the use of these intoxicants to grow.
As the demand for these products increases, the industry continues to call for more regulation to prevent them from getting into the hands of underaged individuals.
Senator José Menéndez holds a similar opinion, arguing that instead of banning the products, the state could use this opportunity to generate tax revenue that could be used to fix roads as well as public schools. Most of his Republican colleagues don’t hold a similar opinion, however, agreeing instead with Lt. Governor Dan Patrick, who is focused on completely banning these products.
This doesn’t align with the stand Texans generally seem to have taken when it comes to hemp-derived products. As per a recently conducted poll, 73% of Texans are in favor of decriminalizing or fully legalizing marijuana. More Texans also support expanding the use of medical cannabis.
Advocates argue that while imposing a complete ban on intoxicating hemp products will devastate this growing market, it will not impact demand. Instead, it will drive supply underground, which reduces the safety of these products. This is why instead of a total ban, the Hemp Business Council under Cynthia Cabrera supports the implementation of measures such as child-proof packaging and age restrictions to keep the products away from children.
At the federal level, similar efforts are also being discussed to regulate these intoxicating compounds in the next farm bill. GOP members in the House have proposed amendments that would divide hemp’s definition into a plant grown for industrial use and that cultivated for cannabinoid extraction.
As different local, state and federal government agencies consider how to respond to this exploding market for hemp intoxicants, companies such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) could study the regulatory climate and weigh what options are available to them.
NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer
The consumable hemp industry in the state of Texas is valued at an estimated $8 billion. When legislators drafted a law to legalize hemp in 2019, they didn’t consider the fact that intoxicating hemp could find its way to the market. At the time of enactment, CBD was the most common compound derived from hemp. This compound is known for not inducing a high when ingested, and it possesses medicinal properties.
However, the industry’s growth allowed for the proliferation of intoxicating hemp, which induces highs when consumed. Currently, intoxicating compounds derived from hemp that are made into products such as drinks, candies and vape pens are legal at both the state and federal level. This comes after the 2018 Farm Bill legalized industrial hemp production and permitted consumable hemp products, creating a loophole that allowed the use of these intoxicants to grow.
As the demand for these products increases, the industry continues to call for more regulation to prevent them from getting into the hands of underaged individuals.
Senator José Menéndez holds a similar opinion, arguing that instead of banning the products, the state could use this opportunity to generate tax revenue that could be used to fix roads as well as public schools. Most of his Republican colleagues don’t hold a similar opinion, however, agreeing instead with Lt. Governor Dan Patrick, who is focused on completely banning these products.
This doesn’t align with the stand Texans generally seem to have taken when it comes to hemp-derived products. As per a recently conducted poll, 73% of Texans are in favor of decriminalizing or fully legalizing marijuana. More Texans also support expanding the use of medical cannabis.
Advocates argue that while imposing a complete ban on intoxicating hemp products will devastate this growing market, it will not impact demand. Instead, it will drive supply underground, which reduces the safety of these products. This is why instead of a total ban, the Hemp Business Council under Cynthia Cabrera supports the implementation of measures such as child-proof packaging and age restrictions to keep the products away from children.
At the federal level, similar efforts are also being discussed to regulate these intoxicating compounds in the next farm bill. GOP members in the House have proposed amendments that would divide hemp’s definition into a plant grown for industrial use and that cultivated for cannabinoid extraction.
As different local, state and federal government agencies consider how to respond to this exploding market for hemp intoxicants, companies such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) could study the regulatory climate and weigh what options are available to them.
NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer
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