CV Sciences Inc (CVSI)

[motorcity]

CBD in spending bill

This is less than I was hoping for. I expected stronger language.

$2 billion allocated. There is no excuse for not having answers with this kind of budget.

60 days for the FDA to report, but not that they have to make a final determination by then.

A whopping 180 days to report on market conditions.

Here is the actual copy from the bill.

"the agreement includes $2,000,000 for research, policy evaluation, market surveillance, issuance of an enforcement discretion policy, and appropriate regulatory activities with respect to products under the jurisdiction of the FDA which contain CBD and meet the definition of hemp, as set forth in section 297A of the Agricultural Marketing Act of 1946 (7 U.S.C. 16390). Within 60 days of enactment of this Act, the FDA shall provide the Committees with a report regarding the agency's progress toward obtaining and analyzing data to help determine a policy of enforcement discretion and the process in which CBD meeting the definition of hemp will be evaluated for use in products. The FDA is further directed to perform a sampling study of the current CBD marketplace to determine the extent to which products are mislabeled or adulterated and report to the Committees within 180 days of enactment of this Act. "