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Hemp and CBD Law In New York: A 2019 Upgrade

Once the calendar turns to 2019, it feels as though most people are when you look at the mood to talk hemp, or its well-known derivative, cannabidiol, more popularly known as “CBD.” The uptick in hemp talk isn’t any coincidence. A few recent updates to federal and new york statutes and laws have actually exposed up the likelihood of a vast market that is new this area. Commentary that reference the legalization of hemp are most likely too simplistic to be beneficial to business owners, smaller businesses, or investors wanting to get in to the industry, as you may still find crucial regulations that control the cultivation and circulation of this plant, with increased clarification and regulation specific to follow along with from Washington, D.C. and Raleigh.

Background

Federal Law

The Agriculture Improvement Act of 2018 (the “2018 Farm Bill”), which, among other things, legalized the cultivation of hemp and removed hemp from its former classification as a Schedule I controlled substance in December 2018, Congress passed, and President Trump signed into law.

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