Florida Hemp Bill Passes With No Limits on THC Levels

2.4 min readPublished On: May 3rd, 2023By

TALLAHASSEE, Fla. — In a major win for hemp farmers and CBD product manufacturers, the Florida Senate has passed a bill that eliminates THC caps on hemp. The legislation, which was approved on Monday, will allow for the cultivation, processing, and sale of hemp and hemp-derived products without any restrictions on THC content.

The bill, which was passed with a unanimous vote in the Senate, is now headed to Gov. Ron DeSantis, who is expected to sign it into law.  “This is a wonderful and a very important vital first step,” said Senate sponsor Colleen Burton (R-Lakeland) during floor debate last Friday.

Hemp, which is a variety of the cannabis plant, is grown for its fibers, seeds, and flowers.

Unlike marijuana, hemp contains only trace amounts of THC, the psychoactive compound that produces a high. Hemp is used to produce a wide range of products, including clothing, paper, and construction materials, as well as CBD products, which are believed to have a range of health benefits. Under current Florida law, hemp farmers are required to grow plants with a THC content of no more than 0.3 percent. This limit has made it difficult for farmers to produce high-quality hemp, as even a slight increase in THC content can lead to the destruction of an entire crop.

The new legislation will allow farmers to grow hemp with higher levels of THC, which will enable them to produce more potent and effective CBD products. The bill will also make it easier for CBD manufacturers to create new products, as they will no longer be limited by the low THC content of Florida-grown hemp. Supporters of the bill say that it will boost the state’s economy by allowing hemp farmers and CBD manufacturers to compete more effectively with other states that have looser THC restrictions.

They also argue that the bill will provide much-needed relief to patients who rely on CBD products to manage chronic pain, anxiety, and other conditions. Opponents of the bill, however, have raised concerns about the potential for abuse of high-THC hemp products.

They argue that the bill could lead to the creation of a “gray market” for cannabis products, as well as increased use of CBD products by minors. Despite these concerns, the bill has received overwhelming support from both Republicans and Democrats in the Florida Senate. Sen. Burton who sponsored the bill, said that it is a “commonsense measure” that will help to create jobs and promote economic growth in the state.

If signed into law, the bill will make Florida one of the most hemp-friendly states in the country, joining a growing list of states that have eliminated or relaxed THC restrictions on hemp. With the passage of this legislation, hemp farmers and CBD manufacturers in Florida are poised to take advantage of a rapidly expanding market for hemp products, which are expected to reach $22 billion by 2022.

About the Author: News Team

Newsteam 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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