Are you above the legal age to view this content in your province/state?

Home / Industry News / Federal appropriations bill includes nearly $20 million in hemp industry provisions

Federal appropriations bill includes nearly $20 million in hemp industry provisions

Federal appropriations bill includes nearly $20 million in hemp industry provisions

A $1.4 trillion federal spending bill that passed both houses of Congress and was expected to be signed Friday by President Donald Trump reportedly includes provisions that would benefit hemp and CBD businesses.

The Consolidated Appropriations Act of 2020 secures nearly $20 million in funding for the growing hemp industry, according to U.S. Senate Majority Leader Mitch McConnell.

McConnell, a Republican from Kentucky who is a senior member of the Senate Appropriations and Agriculture Committee, and Sens. Ron Wyden and Jeff Merkley, both Democrats from Oregon, worked to include the provisions in the 2020 federal spending act, according to advocacy group Vote Hemp.

The bill includes:

  • $16.5 million for the U.S. Department of Agriculture (USDA) to implement hemp provisions in the 2018 Farm Bill.
  • $2 million for the research of hemp through Agriculture Research Service (ARS) sites.
  • A measure encouraging the Food and Drug Administration (FDA) to issue formal enforcement discretion guidance for CBD products.
  • A provision directing the Farm Credit Administration to offer services to hemp producers and businesses.
  • A prohibition barring the federal government from banning the transfer, production or sale of hemp in accordance with the 2014 Farm Bill.
  • Support for competitive USDA grants for hemp projects.
  • A measure to support the U.S. Drug Enforcement Agency’s (DEA) efforts to deploy technology to enable law enforcement to distinguish between hemp and marijuana in the field.

Disclaimer

Investment Value Finders specializes in providing opinions and information on stocks to individuals who wish to receive them. Our reports are construed for information purposes solely and are distributed free of charge to individuals who wish to receive them.


Investment Value Finders does not promote, condone or advocate licit or illicit drug use. Investment Value Finders cannot be held responsible for materials or contests posted on its website pages, or pages to which we provide links, which promote, condone or advocate licit or illicit drug use or illegal activities.


DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser. We are neither licensed nor qualified to provide investment advice.


Investment Value Finders occasionally receives direct compensation for hosting links (or other* advertisements) to third party content that may be subject to disclaimer pursuant to Section 17(b) of the Securities Act of 1933. For those instances where the link text contains company or stock-specific mention, we provide the following list of compensation received in order to ensure full disclosure and transparency.


Investment Value Finders is intended for those 21+ years of age only!

Check Also

BACK TO NEWS FSD PHARMA INC. ANNOUNCES C$10.125 MILLION PRIVATE PLACEMENT

BACK TO NEWS FSD PHARMA INC. ANNOUNCES C$10.125 MILLION PRIVATE PLACEMENT

TORONTO / June 4, 2020 / FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) …