News Summary
In Texas, Sunmed is calling on Governor Greg Abbott to veto Senate Bill 3, warning that its passage could jeopardize over 53,000 jobs and significantly impact the hemp industry. Critics assert the bill threatens small businesses with hefty licensing fees and restricts available hemp products. As community opposition grows, the financial and health implications of the bill remain contentious topics. With the clock ticking, Sunmed encourages Texans to voice their concerns and urge the governor to take action.
Texas – Sunmed™ | Your CBD Store® has publicly opposed the proposed Senate Bill 3 (SB 3), which it claims could devastate the Texas hemp industry by threatening over 53,000 jobs and leading to significant business closures across the state. The law, which has already passed in both the Texas House and Senate, awaits Governor Greg Abbott’s signature, which could take effect in September 2025 if enacted.
The legislation, which has sparked widespread community concern, is expected to close approximately 8,000 businesses if signed into law. According to the Legislative Budget Board, the fiscal implications of SB 3 could amount to a net negative impact of $19.27 million on general revenue-related funds for the biennium ending August 31, 2027, with economic losses projected to grow annually. By 2030, these losses could escalate to $11.69 million, highlighting the bill’s potential impact on the Texas economy.
One of the most contentious aspects of SB 3 is its limitation on permissible hemp-derived consumables. The bill seeks to restrict these products solely to isolated forms of CBD and CBG, effectively banning a range of options that include THC-free and broad-spectrum products. This restriction will likely hinder the variety of choices available to consumers and diminish competition among businesses within the hemp industry.
The financial burden this bill places on small businesses is another critical concern. Heavy licensing fees are stipulated under the proposed law, including an annual fee of $20,000 for retailers and $10,000 for manufacturers, with an additional $500 charged per product. These fees may pose a significant strain on independent merchants who are already operating on thin margins, potentially driving many out of business.
Community response to SB 3 has underscored its lack of public support. Public hearings demonstrate overwhelming opposition, with residents advocating for greater accessibility to hemp products. Critics argue that the proposed restrictions do not align with the interests of Texans, who favor access to a diverse range of hemp-derived consumables.
The controversy surrounding SB 3 has also touched on health concerns regarding THC use. Texas Lieutenant Governor Dan Patrick has expressed serious health fears, linking THC use to potential risks such as schizophrenia. However, many veterans have spoken out against the bill, emphasizing the importance of THC for managing mental health issues and chronic pain.
As the legislation awaits Governor Abbott’s review, there is hope from various industry representatives and advocates for a veto. Sunmed is campaigning for Texans to reach out to the governor to emphasize the adverse effects the bill could impose on job stability and economic growth within the state.
It is essential to note that despite the potential passage of SB 3, the legislation will not impact Texas’ Compassionate Use Program, which permits medical marijuana use for select qualifying conditions.
As Texas navigates the complexities of hemp regulation, the fate of SB 3 remains uncertain, and its implications for the state’s economy, small businesses, and public health will continue to draw scrutiny in the weeks and months ahead.
Deeper Dive: News & Info About This Topic
- ABC13 News
- CBS News
- Fox 4 News
- KCEN News
- Star-Telegram
- Wikipedia: Cannabis in Texas
- Google Search: Texas THC Ban
- Google Scholar: Texas THC legislation
- Encyclopedia Britannica: Hemp
- Google News: Texas Senate Bill 3
