The farm bill Obama signed in February 2014 included an amendment to legalize industrial hemp production for research purposes. The amendment allows State Agriculture Departments, colleges and universities to grow hemp (defined as the non-drug oilseed and fiber varieties of Cannabis) for academic or agricultural research purposes. However it only applies only to states where industrial hemp farming is already legal under state law.
http://open.salon.com/blog/stuartbramhall/2014/10/06/the_politics_of_hemp
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