Menu Close

How HB 1325 will help grow the Texas economy

As of June 10th of this year, Hemp officially became a legal plant to possess, cultivate and vape without fear of prosecution. A bi-partisan bill, HB 1325 created guidelines to the production and regulation of hemp; requiring occupational licenses; authorizing fees; creating criminal offenses; providing civil and administrative penalties and rules to follow. The 2018 Farm Bill, which re-scheduled Hemp as no longer prohibited, gave the green light to The Texas Department of State Health Services to take off hemp from its list of dangerous drugs, which included cocaine and heroin and made it legal to use, buy, sell and possess hemp and the CBD oil extracted from it in Texas.

In 2017, retail sales of CBD consumer products were measured in the U.S. at approx.$600 million to $2 billion, based on research conducted by the investment firm Cowen. This would allow farmers who didn’t fair well with other crops to make a comeback and boost domestic production of rope and other hemp related products. The Farm Bill authorized more than $400 million dollars for USDA broadband infrastructure loans and grants to connect rural communities to the larger economy.