Tennessee sets new rules for hemp-derived cannabinoids

New regulations for sellers of hemp-derived cannabinoids in Tennessee are set to go into effect after final approval from state lawmakers on Tuesday.

State House Speaker Cameron Sexton sent Senate Bill 378 to the desk of Republican Gov. Bill Lee, according to a state legislative database, and Lee is expected to sign the measure into law.

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Under the bill:

Hemp-derived cannabinoid products must undergo lab testing, abide by labeling requirements and be sold in child-resistant packaging. Retailers selling hemp-derived cannabinoids must acquire a license from the state agriculture department by Jan. 1, 2024. The fee for a producer license is $500, while retailers must pay $250. Producers were already subject to a licensing requirement. Sales will be subject to a new 5% “privilege tax” that state law says must “be used exclusively for the regulation of products containing a hemp-derived cannabinoid.” Anyone violating the

Read full article on Marijuana Business Daily

New regulations for sellers of hemp-derived cannabinoids in Tennessee are set to go into effect after final approval from state lawmakers on Tuesday.

State House Speaker Cameron Sexton sent Senate Bill 378 to the desk of Republican Gov. Bill Lee, according to a state legislative database, and Lee is expected to sign the measure into law.

ADVERTISEMENT

Under the bill:

Hemp-derived cannabinoid products must undergo lab testing, abide by labeling requirements and be sold in child-resistant packaging. Retailers selling hemp-derived cannabinoids must acquire a license from the state agriculture department by Jan. 1, 2024. The fee for a producer license is $500, while retailers must pay $250. Producers were already subject to a licensing requirement. Sales will be subject to a new 5% “privilege tax” that state law says must “be used exclusively for the regulation of products containing a hemp-derived cannabinoid.” Anyone violating the

Read full article on Marijuana Business Daily

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The post Tennessee sets new rules for hemp-derived cannabinoids appeared first on The Art Of MaryJane Media.


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