S.B. 1352 Summary

• Authorizes financial institutions in Hawaii to accept deposits, provide loans, and conduct other business with persons and entities that lawfully grow, produce, sell, market, or deal with industrial hemp.

• Clarifies that industrial hemp, legalized federally by the Agriculture Improvement Act of 2018, is distinct from cannabis used for medicinal or nonmedicinal purposes and is no longer a controlled substance under federal law.

• Adds a new section to Chapter 412, Hawaii Revised Statutes, defining industrial hemp consistent with section 141-31 of state law.

• Takes effect upon approval.