BANKING & FINANCE
Iowa Legislature Passes Law Enabling the Production of Hemp
Governor Kim Reynolds signed Iowa Senate File 599 into law, which begins the process to allow for the industrial production of hemp within the State of Iowa. Prior to 2018, hemp was deemed a Schedule I narcotic and banned under the Federal Controlled Substances Act. The 2018 farm bill passed by Congress removed hemp from the list of controlled substances, and opened the door for states to legalize the production of hemp.