$500k Down Payment to Re-establish U.S. Hemp Seed Bank

The Agriculture Research Service (ARS) of the U.S. Department of Agriculture (USDA) has received $500,000 in initial federal funding to create the nation’s only industrial hemp seed bank at Cornell AgriTech, a part of New York’s Cornell University system that researches food and agriculture.

The germplasm repository will enable researchers to identify pest-resistant and disease-resistant genes, and the chance to breed new hemp varieties, said Larry Smart, a horticulture professor in Cornell’s School of Integrative Plant Science. Read more …

The SAFE Banking Act Passes House Overwhelmingly: Onto the Senate!

The SAFE Banking Act, celebrated for offering banking and financial service access to marijuana-based businesses, was amended in 2019 to specifically assist hemp farmers and CBD companies with banking and merchant services. Later that year, the bill passed the U.S. House by an overwhelming margin, 321 to 103, but unfortunately never was heard by the U.S. Senate.

Prospects for the bill appear brighter this year with the change in control of the Senate. And the bill itself is much improved to explicitly protect financial and credit card transactions for hemp farmers and processors, as well as businesses engaged in the handling, manufacturing and sale of hemp-derived cannabinoid products such as CBD. Meanwhile, the bill makes clear that hemp businesses are not subject to the additional scrutiny required for adult-use cannabis commerce. Real the full bill here – (hemp provisions are found on pp. 15-19).

Contact your Senator today!

USDA Approves Nez Perce Tribe Hemp Regulatory Code

LAPWAI — Improving economic development on the Nez Perce Tribal Reservation through industrial hemp production moved a step closer last month.

On Feb. 12, the U.S. Department of Agriculture (USDA) approved the Nez Perce Tribe’s Hemp Regulatory Code, which will provide a regulatory framework for safe and legal production of industrial hemp within tribal jurisdiction. Read more …