BATON ROUGE, La. (WAFB) – Just as quickly as the industry has risen in the state over the last few years, a bill catching traction at the state Capitol could send it crashing down just as fast.
What started as a shot in the dark here in the deep South has quickly turned into a booming business. Data from the Louisiana Hemp Association shows retail sales in the industry started at just over $500,000 when the doors were opened in 2020 to a whopping $33 million last year. Which means tax revenue from those products went from just $64,000 in 2020 to $4.1 million in 2023.
“While it sounds like a lot to most people, to individuals in particular, in the scale of the state budget it’s really not that much money,” said Sen. Thomas Pressly (R-Shreveport).
Sen. Pressly is carrying a bill that would essentially scrap the industry completely, largely associating access to minors as his reason for bringing it. It had overwhelming support in the Senate. It now needs House approval.
“Yea, so my bill on THC products will take the THC level to zero. So, we’ll still be able to have CBD sold in Louisiana, but the THC aspect of the industrial hemp would be over in Louisiana,” Sen. Pressly explained.
Unlike the state’s medical marijuana program, you don’t need a doctor’s referral or medical marijuana card to purchase these products, you just have to be at least 21 years old.
The doors were opened in 2020, but it was in 2022 when state lawmakers approved a bill by then Republican Speaker Clay Schexnayder to allow up to 8mg of THC in recreational products. Many lawmakers approved it under the impression the products would not get people high, but they do. In Baton Rouge, folks have been driving past Rad Dad Alternatives on Government Street for the last six months.
Margaret Wilkinson said she and her husband got into the business because they believe the public interest in alternative medicines has never been higher. They said business has only gotten stronger since they’ve opened. Looking around her store, you will see she has got products ranging anywhere from gummies to tinctures and seltzers, and even pet food.
“We’ve absolutely seen an increase in foot traffic and sales. People come in here anywhere from young professionals to older folks looking for better sleep, pain management,” said Wilkinson.
Margaret said Sen. Pressly’s bill becoming law would reverse all the progress the state has made in such a competitive industry.
“It would definitely be impactful. I think the current bills in the legislature would definitely have an impact on either us or anyone else looking to get into the business,” Wilkinson added.
The bill is currently waiting to be debated in the House Committee on Criminal Justice. While that bill is gaining momentum, another bill looking to add regulations to the marijuana industry is as well. Instead of scraping the industry, HB952 by Democrat Dustin Miller would put tighter regulations on how products are packaged and displayed in stores. His bill appears to have just as much support as Sen. Pressly’s so we will keep an eye on which one survives.
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A bill catching traction could take hemp with THC off the shelves across the state. Read More