Last week, Governor Phil Murphy signed a bill that would ban the sale of hemp products in New Jersey without a marijuana license. The governor’s move was in response to numerous complaints about loopholes that don’t prevent underage individuals from purchasing these products. The bill will place hemp products under the watch of the Cannabis Regulatory Commission, which oversees the state’s medicinal and recreational cannabis markets.
Gov. Murphy stated that while the measure was flawed, he had concluded that the wiser move was to sign it so it would address the risk to health and safety then work with lawmakers to address the measure’s issues in a separate bill. Hemp is legal at the federal level, following the passage of the 2018 Farm Bill. However, a legal loophole has allowed products with intoxicating hemp products to proliferate the market.
Under this law signed by Murphy, retailers aren’t allowed to sell products with THC of any amount to an individual below 21 years of age. In the next 30 days, businesses will also have to take any hemp products off their shelves until new regulations regarding sales are implemented by the commission.
The measure, which was amended at the last minute, raised some concerns from those in the hemp and cannabis industries, mainly because it created confusion in how hemp products are defined. This language could either limit sales to hemp products made in the state or permit retailers to sell hemp products manufactured out-of-state without infracting the law.
Murphy explained that the former would violate the dormant commerce clause stipulated in the Constitution while the latter didn’t align with the measure’s objective by creating another loophole. Supporters of the measure applauded its signing into law, with Todd Johnson of the state’s Cannabis Trade Association noting that this would ensure consumer protection.
The law also permits businesses holding liquor licenses to sell hemp drinks, without imposing the strict standards imposed on marijuana stores.
Not all are happy with this change, however. Beau Huch, a lobbyist who represents hemp drink companies, explained that while the hemp industry had always wanted to limit access to these products by underage individuals, the new law doesn’t offer any tangible benefit to the marijuana industry.
Currently, more than one-half of municipalities in the state have banned marijuana businesses, with towns set to limit marijuana shops in their borders. Marijuana businesses also have additional requirements to meet, including site-approval plans, strict zoning and guards at doors checking IDs.
It isn’t clear whether these jurisdictions will permit these intoxicating products to be sold within their borders.
The issues arising regarding the way the hemp industry is evolving relative to the marijuana industry may be causing cannabis industry players, such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), to have plenty to observe as the trajectories of these related industries unfold.
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