Bill > LB316

This bill modifies Nebraska's hemp and controlled substances laws, focusing on hemp regulation and cannabidiol (CBD) products. It redefines hemp to include strict THC concentration limits, with hemp defined as Cannabis sativa L. containing no more than 0.3% total THC by weight, and specifically includes cannabidiol products within this definition. Beginning January 1, 2026, the bill establishes a 10% excise tax on retail sales of CBD products, with revenue directed to the Property Tax Credit Cash Fund. The legislation introduces a "consumer safe harbor period" from the bill's effective date until December 31, 2025, during which individuals will not be prosecuted for possessing "illegal hemp" and can voluntarily surrender such products for destruction. The bill also updates transportation regulations for hemp producers, requiring specific documentation and establishing guidelines for interstate transport. Additionally, the bill amends the Uniform Controlled Substances Act to incorporate these new hemp and CBD definitions, ensuring consistency across state statutes. The overall aim appears to be creating clearer, more restrictive regulations around hemp production, processing, and sales while providing a transitional period for compliance.