On the last possible day of the current legislature, California lawmakers gave the go-ahead for a couple of measures on marijuana but, they shelved a potentially important part of the hemp legislation.
The two marijuana measures that got approved were:
– Senate Bill 827, which freezes the state’s ability to raise tax rates until July 2021.
– Assembly Bill 1525, which ensures that financial institutions will not face repercussions from the state for the provision of services to cannabis companies.
A bill that would establish a set of new rules for the hemp industry tabled after a protest by both hemp growers and insiders of the marijuana industry but failed consideration.
Assembly Bill 2028, which had been awaiting a significant amendment since the changes first initiated on August 24, was neither amended nor passed before the legislative deadline.