The 2019 Florida Hemp Bill (SB1020) should be signed by the Governor in the next two weeks. The bill focused on three things: (1) Certified seeds (2) Regulated Hemp Growing (3) 3rd Party testing for CBD sales with QR/Bar Code links.
(1) Certified seeds are a protection to farmers who without this certification could be growing marijuana or hemp with low CBD content rendering their crop worthless or requiring it to be destroyed.
(2) Regulated growing will allow the state to keep an equalibrium between hemp processors and hemp farmers and geotrack farms to prevent over eager law enforcement from mistaking hemp for marijuana.
(3) Last, but certainly not least, the 3rd party testing and code link language will help prevent the bad actors in the industry from selling products with contaminants or containing, or not containing in some instances, CBD inconsistent with the label.
All of the above are intended to protect farmers and consumers from bad actors. Farmers in Florida are desperate to find a new cash crop and consumers assume that what they are getting off of their store shelves or on-line are safe and labelled accurately. Unfortunately, numerous studies have shown that without these regulations, products will continue to be sold that decieve the public. Once this bill gets signed into law, we are counting on the State to enforce it. Cleaning up the industry is good for all, farmers and will see the economic boon that this crop is promising, consumers will see the products that can be made from this plant and the State will see a new revenue source. Truly, a win-win-win.
While the ecomomic impact of this bill was hard to determine, the investment pouring into Florida and the jobs being created by this bill is a good reason that it passed the Senate 39-0 and the House 119-1.
Florida may be a few years behind some of the early states but with the strength of our University systems and the passion of our entrepeneurs, Florida is destined to be a leader in the industry.