HI SB2986

Extends the sunset date of Act 14, Session Laws of Hawaii 2020 (which established state hemp processors and commercial hemp production laws) from June 30, 2022 to July 1, 2025.

Recognizes hemp as a high-value crop with over 50,000 uses including fuel, food products, and fiber for textiles and building materials that could support Hawaii farmers and food security.

Acknowledges that Hawaii's hemp market is valued at $32,000,000 to $54,000,000 annually but most revenue goes to out-of-state producers due to current state prohibitions and overregulation.

Notes that the 2018 Farm Bill legalized hemp federally and the USDA established monitoring regulations in October 2019, supporting the need for state law reforms.

Allows additional time for interested parties and agencies to resolve remaining regulatory issues before determining the permanent status of hemp laws in Hawaii.