Latest news with #TexasHemp
Yahoo
3 days ago
- Business
- Yahoo
Texas THC ban: Advocates seeking SB 3 veto to hold Monday press conference in Austin
The Brief A coalition is urging Governor Greg Abbott to veto SB 3, a bill that would ban legal THC products in Texas. Supporters of the hemp industry plan to deliver over 100,000 petition signatures and thousands of letters to the Governor's office on Monday. Opponents of the ban argue it would dismantle a $4.3 billion industry, risk 53,000 jobs, and potentially lead to an influx of unregulated products. AUSTIN - A coalition of Texans concerned about the looming ban on THC products is set for a press conference in Austin on Monday. They say over 100,000 petition signatures and thousands of letters are expected to be delivered to Gov. Greg Abbott's office in relation to their plea. According to the Friday press release from Texas Hemp Business Council, those expected to appear at the conference include farmers, veterans, small business owners and hemp advocates. They plan to speak out against SB 3, which would put an end to legal THC consumables within the state. The coalition plans to meet at the Texas Capitol at 2 p.m. Monday in hopes of convincing Abbott to veto the bill, which has been passed by both the House and Senate. According to their press release, they are concerned about the dismantling of a $4.3 billion industry which they say supports 53,000 jobs, as well as the potential to "open the floodgates" to unregulated, unsafe products in the vacuum created by the legislation. What they're saying The council's press release reads in part: "The Texas Hemp Business Council and its supporters are calling on Governor Abbott to veto SB 3 and stand with the hundreds of thousands of Texans, including small business owners, workers, consumers and veterans, who depend on this industry for jobs, economic opportunity and the freedom to choose hemp-derived products." SB 3 has been championed through the legislative session by Lt. Gov. Dan Patrick, who has called the consumable products "poison." Patrick has come under fire by small business owners, who claim he "blatantly lied" about the contents of consumable THC products. The other side Small business owners have been among the front runners of those in opposition of the bill. They say the industry is made up of over 8,000 businesses in the state, all of which would potentially be dismantled if the bill were signed into law. Alongside small businesses are Texas veterans. They say THC has been a positive alternative to more addictive and potentially harmful substances like alcohol, opiates and prescription pills, and worry about those suffering from PTSD and other mental and physical maladies who might fall back into destructive habits if the substance is banned. The backstory The THC products being sold by businesses in Texas were legalized via an accidental loophole created in 2019, when Texas passed legislation expanding the hemp industry. Farmers worry that closing off that loophole will be disastrous for their profits and employees, which have come to rely heavily on the booming industry over the past six years. While SB 3 would all but ban THC, there is still one possible, albeit narrow, legal option for those who rely on the substance. The Texas Compassionate Use Program, or TCUP, has been in place since 2015, allowing for medical marijuana use by a very select few who meet the requirements. This session, HB 46 had intended to expand on the parameters in TCUP. Included in the House's proposed expansion were honorably discharged veterans who would benefit from use, those experiencing chronic pain, glaucoma, traumatic brain injury, spinal neuropathy, Crohn's disease or other inflammatory bowel diseases, degenerative disc disease and patients with a terminal illness or condition for which a patient is receiving hospice of palliative care. On Saturday, Texas Representatives took to social media, rallying against a Senate amendment to the bill, which would have cut chronic pain, TBI and other conditions from those included in the new parameters. It also dramatically cut the number of new licenses to be issued. The House members on X were upset about the changes, saying many had approved of SB 3 under the condition that TCUP would be expanded. Sunday, Patrick posted on X that he and Rep. Tim Oliverson (R-Cypress) came to an agreement on the legislation. What's next Abbott has declined to comment on whether he will sign SB 3 into law. The legislation has been sent to his desk, and while the governor has been vocal about bills he intends to sign, the THC ban has not been mentioned in the wake of pressure from opposing sides. The governor has three choices before him. He can either sign the bill into law, veto the legislation, or allow it to sit on his desk for 10 days, at which point it will pass without his direct approval and take effect on Sept. 1. The Source Information in this article comes from the Texas Hemp Business Council and previous FOX 7 reporting.
Associated Press
4 days ago
- Business
- Associated Press
Your CBD Store® and Independent Business Owners Oppose SB 3: A Call to Action for Texas Residents
Sunmed™ | Your CBD Store® asks Texas Governor Greg Abbott to Veto Senate Bill 3 AUSTIN, Texas, May 30, 2025 /PRNewswire/ -- Sunmed™ | Your CBD Store® stands in firm opposition to Texas Senate Bill 3 (SB 3), which threatens the livelihood of thousands of small and independent Texas merchants and business owners and denies access to a wide range of wellness and therapeutic products. This Bill, if signed into law, will have devastating consequences for Texas's small business community, including the loss of over 53,000 jobs and the closure of 8,000 businesses. Key Concerns: Massive Job Loss SB 3 jeopardizes more than 53,000 jobs in the Texas hemp industry, directly threatening the livelihoods of families across the state. Severe Economic Impact The Bill's economic repercussions are extensive and disproportionately harmful to small and independently owned businesses that depend on the sale and merchandising of hemp products. A fiscal note from the Legislative Budget Board (LBB) projects a net negative impact of $19.27 million to general revenue-related funds for the biennium ending August 31, 2027. These losses are expected to increase annually, reaching an estimated $11.69 million by 2030. These projections are considered conservative, and the actual impact is expected to be significantly greater. (Source: Texas Senate Bill 3: Dan Patrick's Ban on All THC Products - Texas Policy Research ) Reduced Consumer Choice SB 3 does not reflect the interests of Texas residents, who have consistently voiced strong support for accessible and responsibly regulated hemp products. Public hearings have included extensive testimony opposing the Bill, highlighting overwhelming community support. Overly Restrictive Regulations The Bill effectively amounts to an industry-wide ban by limiting permissible hemp-derived consumables to only isolated forms of CBD and CBG. These limitations exclude a variety of THC-free, broad-spectrum products that consumers rely on, and force businesses to develop entirely new product lines to remain compliant. Unsustainable Costs for Small Businesses SB 3 imposes burdensome licensing fees of $20,000 annually for retailers and $10,000 per year plus $500 per product for manufacturers. These fees place an undue financial strain on small businesses, threatening their sustainability. Call to Action We urge all Texans to oppose SB 3. Contact Governor Abbott and request that he veto this harmful legislation: Sunmed™ | Your CBD Store® stands with small businesses and the Texas communities they serve. We believe in protecting consumer access to safe, effective hemp products and supporting the local entrepreneurs who provide them. Join us in defending our industry, our economy, and our right to choose. Contact Patrick Shatzer Sunmed l Your CBD Store [email protected] About Sunmed™ | Your CBD Store® Sunmed | Your CBD Store, an affiliate of Sunflora, Inc., is the largest hemp retailer in the United States and the exclusive home of award-winning, hemp-derived Sunmed products. With 300+ nationwide locations across 42 states, the brand offers a premium in-store customer experience with access to 150+ nonpharmaceutical wellness formulas, including clinically proven sleep gummies, pain relief topicals, USDA-organic oil tinctures, and CBD for pets. Through in-store education, community involvement, and groundbreaking clinical research, Sunmed strives to empower modern wellness and enhance people's lives with natural science-backed products. Learn more at View original content to download multimedia: SOURCE Sunmed
Gizmodo
22-05-2025
- Business
- Gizmodo
Texas Is Gearing Up to Ban THC
Everything is bigger in Texas, except the THC industry, which may disappear entirely. Just six years after the state opened up hemp sales, the Texas House voted this week to outright ban the sale of products containing any amount of THC, according to the Texas Tribune—a prohibition that will upend a major industry within the state and implement stricter punishments for consumers. The statehouse took up the proposed total ban on THC products Wednesday night and approved the measure by a vote of 86-53, falling largely along party lines. Per the Houston Chronicle, members of the Texas House had been exploring introducing new regulations on the hemp industry instead of going for the full ban, including a ban on vapes and synthetic compounds, as well as cracking down on packaging and products designed to appeal to children. But, at the urging of Lieutenant Governor Dan Patrick, the legislators embraced the full prohibition approach. The Senate has already passed a version of bill, so there are just a few procedural hurdles left to clear before a final version gets sent to Governor Greg Abbott to sign it into law or reject it. Banning pot products has been one of the top legislative goals of Lt. Gov. Patrick, who claims the products have been fueling a public health crisis. He found plenty of allies in the statehouse, including House bill sponsor Tom Oliverson. The Republican representative told The Dallas Morning News that, under the bill, 'If it gets you high, it is not legal anymore.' The crackdown will come with some strict penalties for those caught with THC-laden consumables. The bill would carry a penalty of up to one year in jail for an adult who possesses hemp products with any amount of THC. The Texas Tribune noted that this is a stricter penalty than the one imposed for getting caught with 2 ounces of marijuana. Hemp products were first legalized in Texas a part of a 2019 farm bill, and a massive industry has cropped up around THC since then. One report estimates that the hemp business generates about $8 billion in revenue per year in Texas and employs more than 50,000 workers. All of that could disappear overnight should the full prohibition go into effect. While a flat ban on THC is a draconian step, especially given the option to regulate the industry was on the table, Texas isn't the only state pumping the brakes on the hemp industry. Several others, including Colorado, have taken steps to regulate intoxicating hemp products over concerns as to how strong they are and how they affect users. Last year, the National Academies of Sciences, Engineering, and Medicine called for federal standards to be put in place for intoxicating products derived from hemp, driven by the growing market of THC concentrates and vape oils that have become available and offer significantly higher doses of THC than dried flower.
Forbes
06-05-2025
- Business
- Forbes
Is Hemp Too Big To Ban In Texas?
A field of hemp plants Texas Farm Bureau Texas is not the first, nor is it the only state currently attempting to regulate or outright ban hemp, but the sheer size of Texas and its own hemp industry beg the question: Has hemp become too big to ban? The 2018 Farm Bill, once it was passed into law, removed intoxicating hemp from the Controlled Substances Act based on the measurement of one specific cannabinoid, delta-9 THC. Although delta-9 THC is the psychoactive agent in cannabis that can get users high, it is not the only one in cannabis. As a result, states across the country, especially those without legal cannabis markets, are now home to gas stations that sell vapes and THCA flower, and liquor stores that carry delta-8 weed drinks. State regulators across the country are attempting to reign in this wave of new hemp products that are flourishing. Calculating the size of hemp Grand View Research estimated that the industrial hemp market hit $1.63 billion in 2023, with an expectation that it will surpass $6 billion by 2030. The Food and Drug Administration estimated that by 2023 the legal hemp industry was worth $291 million, but nailing down a precise number is difficult because not every state tracks hemp sales in a way that makes it easy to assess the market's overall value, according to cannabis law firm Vicente. In a blog post, Vicente market analyst Andrew Livingston explained that only four states have special taxes on hemp, Minnesota, Tennessee, Louisiana and West Virginia. Tennessee alone experienced over $245 million in sales in 2024. 'I think we're close to the point where the hemp industry is too big to get rid of completely,' said Zachary Kobrin, a partner at Saul Ewing. 'I do think that there will be some kind of correction whether its codifying the total THC formula, or more strict on synthetic cannabinoids, maybe something lie that.' Texas is one of several states where lawmakers are attempting to shut down the hemp-derived intoxicants industry, despite the fact that hemp has grown into a multi-billion industry since the 2018. All eyes are on Texas Currently, the Texas House is considering whether or not it will go along with a hemp ban that has already passed the Senate. Texas hemp has reached $5.5 billion in annual sales, according to a recent market report developed by Whitney Economics and distributed by Hometown Hero CBD. The industry employs about 53,000 workers and operates about 8,500 storefronts across the Lone Star State. Lt. Gov. Dan Patrick, who has been an outspoken proponent of banning intoxicating hemp, argued that the size of the Texas market is exactly the problem. "Who opens 8,000 locations in less than four years, most of them since 2023? What business starts out at $8 billion in revenue?" asked Patrick during a March 19 press conference, in support of the ban. 'This is a bill that we have to ban THC and shut all of these stores down. that includes THC being sold in liquor stores in drinks. there's no exception to this. this is a poison to our public.' Last week, a House subcommittee sent a competing hemp bill to the House floor that would still allow edibles and non-synthetic smokable flower as long as it was grown in Texas and not imported. 'If SB 3 ends up getting passed and the governor signs it, that's going to completely destroy the hemp industry in that state,' said Kobrin. 'At the same time, i think there are certain states that even as regulated, allow for a really interesting framework, such as Tennessee, Florida and Minnesota.' Michelle Bodian, a hemp beverage attorney, explained that total bans on hemp products are increasingly less likely in part because that industry has grown so large, but also because the hemp industry has thus far been nimble at maneuvering around state restrictions. 'We've seen prohibition doesn't work, maybe states are getting there faster on the hemp side of the plant. Regulation saying something is prohibited does not necessarily stop the industry from functioning, and I think states are being more strategic,' she said. 'Maybe there's an alternative to an outright 'no.'' Bodian also said that states are more likely to take a second look at the potential economic impact of a hemp ban. 'All the operators and all those selling via the internet, those all of a sudden within 24 hours shut down their business, lay off their entire teams and close their stores or close their businesses,' she said. 'So I do think states are taking a little bit different of approach and looking more at regulation rather than straight prohibition.' Some businesses are pivoting toward hemp Despite the increased scrutiny from state governments, larger companies such as multi-state operators in the cannabis space and even companies with no previous experience in cannabis are getting involved. Edible Arrangements recently announced that it would start offering delivered edible hemp products and beverages in select markets. Meanwhile, established cannabis companies, such as Curaleaf and Glass House Brands are getting into legal hemp. 'If you are a regulated THC company like Curaleaf, moving into hemp-derived products is a natural push. Most THC cannabis companies have been trying to set themselves up to create a national distribution network. Moving into hemp, it's obviously different, but you can do interstate commerce.' Despite the interest from large companies, Kobrin was not optimistic that hemp would remain a financial boon for very long. 'This kind of Wild West mentality, you're capitalizing on as much maximum revenue as quickly as you can, knowing that probably in the next three to five years, this is going to scale down, said Kobrin. 'There's going to be some kind of regulatory correction, but I don't think they're going to close the loop hole completely.' Drinks have especially been booming, in part because they do well in age-gated businesses such as liquor stores. "drinks are particularly interesting because that is an area where we're seeing a ton of growth, in terms of the hemp industry. Popularity is really booming," said Bodian. 'What's the outlook for them? Clearly things are doing great, but there are some states where it's gonna be more and more difficult to get into stores.' 'Whether or not you're an alcohol beverage producer, or a soft drink company, I think moving into that space is a natural movement,' added Kobrin. 'We're already seeing a lot of the beer distributor companies want to be involved in this space. I think the beverage market is a ripe opportunity for these traditional non-cannabis related companies to pivot over.'
