Florida Governor Vetoes Hemp Regulations Package

1.8 min readPublished On: June 10th, 2024By

NEW YORK- Florida Governor Ron DeSantis vetoed a legislative package aimed at banning products containing hemp-derived delta-8 THC and other intoxicating cannabinoids, according to CBS News.

The vetoed legislation, Senate Bill 1698, sought to regulate hemp products more strictly. However, DeSantis argued that the bill would impose undue regulatory burdens on small businesses and likely fail to achieve its intended goals. “Small businesses are the cornerstone of Florida’s economy. While Senate Bill 1698’s goals are commendable, the bill would, in fact, impose debilitating regulatory burdens on small businesses and almost certainly fail to achieve its purposes,” DeSantis said in his veto statement.

The veto comes at a critical time as Florida voters prepare to decide later this year on the legalization of adult-use cannabis. DeSantis’ decision is seen as a strategic move to protect the state’s hemp consumables industry and support small businesses, which he views as essential to Florida’s economy. This stance is aligned with his opposition to large-scale cannabis industry competitors.

The Florida Healthy Alternatives Association expressed support for the veto, emphasizing the importance of hemp and CBD products for everyday Floridians. “The Legislature heard our concerns, but didn’t fully appreciate the impact of their legislation. Governor DeSantis understands that everyday Floridians rely on hemp and CBD products to stay away from harmful and addictive medications and that thousands of Floridians have built local businesses to serve this critical need,” the association said in a statement.

However, the bill’s primary sponsor, state Sen. Colleen Burton, expressed disappointment over the veto. “As prime sponsor of Senate Bill 1698, related to food and hemp products, it is very disappointing this legislation was vetoed,” Burton told CBS News.

The proposal, which passed unanimously in the Senate and by a 64-48 vote in the House, faced considerable opposition despite its legislative success. DeSantis had been reported last month to be considering a veto, highlighting the contentious nature of the proposed regulations within Florida’s political landscape.

As the state moves towards a vote on adult-use cannabis legalization, the outcome of this veto will likely influence ongoing debates about the regulation and commercialization of cannabis and hemp products in Florida.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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