Companies in Texas who sell THC-derived hemp products are in a limbo as Gov. Greg Abbott has until Sunday to approve Senate Bill 3, which would outlaw the majority of THC-infused consumables in the state.
With the exception of CBD and CBG isolates 1, the bill, which was approved by the Legislature in May, would ban goods that contain Delta-8, Delta-9, and other cannabinoids produced from hemp.
According to the Texas Hemp Business Council 1, the hemp sector in Texas has expanded to a market worth $8 billion in recent years, sustaining over 53,000 employment and bringing in over $267 million in tax income.
According to Candice Stinnett, a board member of the Texas Hemp Coalition and owner of Emerald Organics in Fort Worth, the measure jeopardizes the existence of thousands of small companies just like hers.
“We worked tirelessly since February, going down to the Capitol, having meetings with dozens of lawmakers and the speaker’s office to come up with a regulation to just tighten up this industry,” Stinnett stated.
The coalition favors regulation, not prohibition, she underlined.
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“We do agree it needs to be an adult-use market. We do agree there should be milligram caps on products and no synthetic or converted cannabinoids-just pure, plant-derived cannabinoids,” she stated.
Despite opposition, SB 3 passes
SB 3 passed both legislative houses in spite of those efforts. According to Stinnett, the result was a huge letdown.
The bill would outlaw around 90% of the goods that Emerald Organics sells. Stinnett responded by putting up an information booth in her shop where patrons could send letters to the governor and sign a petition.
Over 8,600 companies in Texas market hemp products, according to the Texas Department of State Health Services. According to the Texas Hemp Business Council, SB 3 might result in the loss of over 50,000 employment and $4.3 billion in yearly revenue 1.
Stinnett expressed uncertainty about the viability of her business in the event that the measure is signed into law.
“Myself and the coalition, we’re really hoping that Governor Abbott looks at those regulations and comes to, I guess, an agreement,” she stated.
