US (TX): Local businesses to testify against proposed hemp ban

Hundreds of local businesses, farmers and industry advocates will gather at the Texas Capitol on Monday, April 7 to testify against Senate Bill 3 and House Bill 28, sending a clear message that this legislation would devastate the state's thriving hemp industry.

The Texas Hemp Business Council is calling on state legislators in the Texas House of Representatives to reject SB3 and HB28 during Monday's public hearing, being held by the Texas House Committee on State Affairs.

"We are urging the Texas House to carefully consider the consequences of SB3 and HB28 on the tens of thousands of small businesses, farmers and consumers who rely on the hemp industry," said Cynthia Cabrera, president of the Texas Hemp Business Council and chief strategy officer at Hometown Hero. "Texas has built a thriving hemp market that provides jobs, tax revenue and access to safe, legal products for responsible adults. Restrictive measures risk stifling innovation, driving businesses out of state, and limiting consumer choice. We stand ready to work with lawmakers to ensure common-sense regulation that balances public safety with economic opportunity. The future of Texas hemp is at stake, let's get it right."

A newly released economic report, Hemp-Derived Cannabinoids in the Lone Star State: A Revisit of the Economic Impact Analysis of Cannabinoid Retail in Texas,* reveals that the hemp industry is a major contributor to the Texas economy, generating $5.5 billion in annual sales with an estimated tax revenue of $268 million. Developed by Whitney Economics, the report also found that proposed state regulations, including Texas SB3, which seeks to ban all hemp-derived THC products, could cost the industry $7.5 billion and 40,201 jobs, according to the latest data.