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Hemp, Inc. Reports: South Dakota on Track to Legalize Industrial Hemp
Hemp, Inc. Reports: South Dakota on Track to Legalize Industrial Hemp.
About this update from Hemp, Inc.
[{"type":"text","content":"\n \n \n Hemp, Inc. Reports: South Dakota on Track to Legalize Industrial Hemp\n \n \nHemp, Inc. Reports: South Dakota on Track to Legalize Industrial Hemp\n \n SPRING HOPE, NC--(Marketwired - Feb 25, 2017) - Hemp, Inc. (OTC PINK: HEMP) executives announce to shareholders today that South Dakota may also join the ranks of states to legalize industrial hemp. According to the South Dakota State Legislature, House Bill (HB) 1204, sponsored and introduced by South Dakota's Committee on State Affairs, would allow the production and sale of industrial hemp for commercial purposes, thereby setting forth the foundation to end federal prohibition in practice. The Committee on State Affairs introduced House Bill 1204 (HB1204) this month which passed the house with a 51-16 vote before moving to the Senate house, for the first read, yesterday.\n Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP), said, \"With the succession of states legalizing or on track for legalizing industrial hemp, the industrial hemp industry in America is rapidly reaching a tipping point. Hemp, Inc. forecasted this tipping point years ago and started developing the solid infrastructure for what we have in place today. That infrastructure includes our commercial multi-purchase industrial hemp processing facility in North Carolina, industrial hemp farming in North Carolina, Nevada, Arizona (and more states soon), marketing systems to market in the U.S. and globally, and an educational component ('The Hemp University' in North Carolina). This has put us at the forefront of this multibillion dollar emerging industry as a leader while we continue to collectively build a new clean green agricultural and industrial American Revolution.\"\n Under the proposed law, any person meeting the statutory requirements could plant, grow, harvest, possess, process, sell, and buy industrial hemp with a license issued by the South Dakota Department of Agriculture. Current federal law regarding industrial hemp authorizes hemp farming by research institutions only for research purposes while farming for commercial purposes by individuals and businesses remains prohibited. HB1204, however, exercises its state's rights and simply ignores federal prohibition and authorizes commercial farming and production.\n While prospective hemp growers would still have to take federal law into considerat...