The Senate Committee on Tax and Fiscal Policy took testimony on SB 293 yesterday morning. Thank you to all the Hoosiers who reached out to Chairman Holdman and the rest of the committee voicing your support for the bill.
SB 293 is designed to bring clarity to, and put guardrails around, the existing hemp-derived cannabinoid market in Indiana - with a focus on consumer protection. It also provides law abiding Hoosier farmers, small business owners and consumers access to the craft hemp flower market once again, so long as the craft hemp flower meets certain quality control standards
Justin Swanson testified in support of the bill on behalf of Midwest Hemp Council and 3Chi. Indiana Farm Bureau, Americans for Prosperity and the Indiana Restaurant and Lodging Association also provided testimony in support of the bill.
The Indiana State Police were the only law enforcement stakeholder to testify against the bill, and the Indiana Prosecuting Attorney’s Council took the position that hemp-derived cannabinoid products are illegal under state law.
We want to thank Senators Holdman, Walker and Pol for their leadership on this critical bill that supports farmers, small businesses, law enforcement and consumers. We are excited to share that Chairman Holdman removed the proposed eight percent excise tax on the retail sale of hemp flower. We look forward to further collaboration with Senator Holdman on this specific taxing issue, as well as the overall bill.
Chairman Holdman held the bill without a vote to continue stakeholder discussions. We are meeting with Senate leadership and the State Police to discuss the bill further.
We still need your help! The bill must be voted out of committee on or before Thursday, February 23, in order to keep moving through the process. Please continue to reach out to members of the Tax and Fiscal Policy Committee and voice your support for SB 293. Contact information for committee members can be found here.
See below for an infographic we will keep up to date to help you understand where the bill sits in the legislative process.
