CBD and Cannabis: The Latest Updates

ALEXANDRIA, Va. – Each week, NACS brings you a roundup of news and information on cannabis and CBD to help update you on the fast-moving products and their legality. Here are the topics in the news for the week of June 1-7:

U.S. Federal Activity
Governors Send Bipartisan Letter Supporting Marijuana Legislation. A bipartisan group of 12 governors sent a letter on June 3 to congressional leaders encouraging them to pass the Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, a bill that would exempt individuals and businesses that are working in compliance with a state’s cannabis laws from prosecution under federal law, which still prohibits the selling and use of marijuana (among other things). (Source: Letter) 

Marijuana Banking Bill Moves Closer to House Floor Vote. Last week, the Secure and Fair Enforcement (SAFE) Banking Act, a banking bill that would enable financial institutions to service cannabis businesses, advanced toward consideration on the House floor. The legislation was officially reported out of the House Financial Services Committee, following a March vote in the committee. Subsequently, the House Judiciary Committee waived its jurisdiction and the bill was placed on the House Union calendar. A floor date, however, has not been announced. (Source: Marijuana Moment)

Federal Reserve Governor Pledged to Clarify to Hemp Rules. During a June 6 Senate Banking Committee hearing, Federal Reserve Governor Michelle Bowman indicated the agency will clarify to the banking industry that hemp is a legal product. In response to a question by Sen. Jon Tester (D-MT), Bowman said the agency would “not discourage banks from banking [hemp] customers.” (Source: Roll Call)

TSA Updates Website to Allow Hemp-Derived CBD. The Transportation Security Administration updated the medical marijuana section of its website to indicate that cannabidiol (CBD) oil products that contain no more than 0.3 percent tetrahydrocannabinol (THC) or that are approved by the Food and Drug Administration (FDA) are allowed on flights. (Source:TSA)

State and Local Activity
Delaware Advances Recreational Marijuana Legislation in State House. On June 5, the Delaware House Revenue and Finance Committee cleared the way for recreational marijuana legislation to be considered by the full House. A similar bill failed to win enough support in the Delaware House last session. (Source: NBC 10 Philadelphia)

Rochester, NH Begins Enforcing CBD Regulations. City officials in Rochester, NH, have started to enforce Food and Drug Administration (FDA) regulations that prohibit using cannabidiol (CBD) as a food additive. Retailers have expressed their frustration since a sizeable percentage of their sales previously came from edible CBD products. (Source: New England Cable News)

Louisiana Passes Hemp Legislation. The Louisiana Legislature passed a bill on June 4 that would regulate industrial hemp and allow retailers to sell hemp-derived cannabidiol (CBD) products. Although the 2018 Farm Bill legalized hemp, many state laws continue to ban products that contain the crop. The state regulations, which will not go into effect until the Food and Drug Administration (FDA) finalizes federal hemp regulations, are meant to clarify that hemp is also legal at the state level. (Source: WAFB)

NACS has prepared a fact sheet (for members only) to help you navigate what’s legal and what’s not for CBD retailing. Don’t miss the just-added Federal Cannabis Legislation Tracker covering bills that have been introduced in Congress in 2019 pertaining to marijuana legalization that may affect retailers.