Hemp Inc. (OTCMKTS: HEMP) has praised the state of Idaho for becoming the 50th state to approve industrial hemp legalization following the passing of House Bill No 26 in the April 2021 legislature. An emergency clause made the legislation effective as soon as it passed both chambers of the legislature.
Idaho approved of industrial hemp, allowing expansion of operations
With the law approved, farmers can receive hemp licenses so they can cultivate and handle the crop legally during the growing season for products such as paper, insulation, food, and oil products. According to sources, the states took a “methodical and diligent approach” to what will mean for the state to approve the crop.
Idaho’s authorization of industrial hemp allows its farmers to expand operations, potentially opening up additional options to conduct business with other businesses in the industry. Executives feel that Idaho’s farmers will find Hemp, Inc.’s 10 divisions, extensive resources, and priceless industry contacts particularly useful as their operations grow. Not to add, Hemp, Inc. has already established itself as an industry “go-to” consultant.
Braden Jensen, Idaho Farm Bureau’s deputy government affairs director, stated the organization has been attempting to push for the change in policy for the better part of the past 20 years, but that the 2018 Federal Farm Bill, which removed hemp from the controlled substances list, made the issue a primary focus in the 2021 legislative session.
Idaho has two license options
Farmers in Idaho now have two license options (handlers and producers). Processing raw hemp products into other materials will be done through licensed handlers, but they cannot cultivate the crop. Hemp can only be grown and availed through licensed producers. Both permits will need a yearly background investigation on the owner and producers having their hemp plants tested for approved THC levels (below 0.3 percent ). If any lot sample exceeds this level, the whole crop will be discarded or combined with a specific variety to reduce the THC content.
In November 2021, the state had around 60 applications, and currently, eight have licenses have been approved.
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