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Hemp Farming Act of 2018 Will Legalize Hemp and Spur New Market Opportunities
Hemp Farming Act of 2018 Will Legalize Hemp and Spur New Market Opportunities.
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[{"type":"text","content":"\n\n SRING HOPE, NC, April 17, 2018 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC PINK: HEMP) applauds Senate Majority Leader, Mitch McConnell, for introducing a bill last week that would remove industrial hemp from the federal government’s schedule of controlled substances.  The Hemp Farming Act of 2018 stipulates that hemp will be legalized and removed from the Controlled Substances Act and also makes industrial hemp eligible for crop insurance.  As a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, Hemp, Inc. has been a long-time proponent for industrial hemp and sees this as a widespread opportunity for farmers across the country to grow hemp and reap the economic rewards of growing hemp.\n “This Hemp Farming Act sends a clear message to U.S. farmers that they should get started planting as much hemp as they can. This bill can be revolutionary. It has already started sending shockwaves through the farming and agriculture communities across the country,” says Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP). The filing of The Hemp Farming Act of 2018  follows the Omnibus Spending Bill recently signed by President Donald Trump that includes certain protections for hemp. Stated in a press release from Senator McConnell’s office, “The Hemp Farming Act of 2018 … builds upon the success we have seen through the hemp pilot programs by allowing states to be the primary regulators of hemp (if the U.S. Department of Agriculture approves their implementation plan). This legislation will also remove the federal barriers in place that have stifled the industry, which will help expand the domestic production of hemp. It will also give hemp researchers the chance to apply for competitive federal grants from the U.S. Department of Agriculture – allowing them to continue their impressive work with the support of federal research dollars.”  To read the full press release from McConnell’s office, click here. McConnell is optimistic that industrial hemp can become, sometime in the future, what tobacco was in Kentucky's past (according to a recent Forbes article). Previously, McConnell has helped develop new federal and state legal permissions for hemp ...