Garrett Graff, partner in the firm’s cannabis team, recently spoke with Kate Lavin at the Hemp Industry Daily about the 2023 Farm Bill and the expectation that environmental, social and corporate governance will play a larger role in the hemp industry.
The article, Hemp Experts Say 2023 Farm Bill Could Even Playing Field Between US and Rival Countries, was published in Hemp Industry Daily on October 21.
An excerpt from the article is below.
Closing the gaps between the 2014 and 2018 Farm Bills could provide U.S. hemp companies with “a leg up on international trade,” according to a speaker at the Hemp Industry Daily Forum, a daylong preconference event held in Las Vegas.
Federal funds for such business-development projects opened to hemp companies when the 2018 Farm Bill legalized the cultivation, processing and sale of hemp and hemp-derived products.
Disparities between the 2014 and 2018 Farm Bill documents continue to create strife in the United States, however.
Garrett Graff, partner at Moye White law firm in Denver, said he expects the 2023 Farm Bill to contain more harmonization of the two packages of federal legislation, along with further insight about testing rules required by the U.S. Drug Enforcement Administration.
He also expects environmental, social and corporate governance to play a larger role in the updated Farm Bill.
In the nearer term, NIHC’s Farnsworth predicted the U.S. Senate and House of Representatives would affirm the U.S. Department of Agriculture’s authority over hemp. Meanwhile, Senate Bill 1698, the Hemp Access and Consumer Safety Act, stands to clarify that hemp-derived CBD can be included in dietary supplements and food.
Read the full article in the October 21 issue of the Hemp Industry Daily.
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