On April 12, 2018, Senate Majority Leader Mitch McConnell (R-KY) introduced S. 2667, The Hemp Farming Act of 2018. The bill defines hemp as Cannabis with 0.3% THC or less by dry weight including all parts of the plant and removes it from the Controlled Substances Act. It allows states to regulate commercial hemp farming after submitting a plan to regulate it to the USDA. The bill authorizes crop insurance for hemp and provides funding for hemp research.
The bill also defines hemp more broadly than the previous Farm Bill and now explicitly includes extracts and cannabinoids derived from the plant.