On the final day they could approve bills this year, California lawmakers gave the go-ahead to a pair of marijuana measures but shelved a potentially major piece of hemp legislation.

The two marijuana measures that won approval were:

  • Senate Bill 827, which freezes the state’s ability to raise tax rates until July 2021.
  • Assembly Bill 1525, which guarantees financial institutions won’t face repercussions from the state for granting services to cannabis companies.

But a bill that would have established a host of new hemp industry rules was tabled after an outcry from both hemp farmers and marijuana industry insiders who viewed the measure unfavorably for various reasons.

Assembly Bill 2028, which had been awaiting a major amendment since the changes were first released on Aug. 24, was neither amended nor approved before the legislative deadline.

All Credit goes to Original Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here