There is a lot to consider with the Cannabis Industry. In NJ we are just starting to understand the Marijuana Legalization Bill. We will provide you information on what’s happening in NJ and how it will affect you and your business. We will have contributions from our partners too.
There has been a lot of misconceptions as well as misunderstandings about the commercialization and legalization of Cannabis derived products since the passing of the 2018 Farm Bill where Cannabidiol (CBD) oil, a derivative of Hemp Seed (as well as Marijuana Plants) has been legislated as an agricultural commodity. Yet, the U.S. Drug Enforcement Administration (DEA) retains jurisdiction over CBD from marijuana because marijuana remains a Schedule I substance. The FDA, the DOJ, and individual states still have jurisdiction on CBD oils. Find below two articles written by legal experts on the regulatory and legal landscapes that must be known on CBD Oils.
or your company are interested in learning more about Cannabinoids and how to navigate the regulatory waters, NJCBTI will be hosting a workshop on May 3rd, 2019. For further details go to the events tab.
What is the main concern from the regulatory, legal and medical authorities?
- The 2018 Farm Bill only covers HEMP and HEMP derivatives.
- One of the HEMP derivatives is cannabinoid oil (CBD).
- The CBD oil from HEMP has traces of THC (hallucinogen/narcotic).
- The maximum amount of THC indicated in Section 10113 of the Farm Bill is 0.3%. Anything over that percentage has no legal protection under this Bill.
Although, after March 25th when the NJ Marijuana Legalization Bill becomes law, all sales outside the State will have to comply with the US 2018 Farm Bill, Federal Guidelines.