IL SB2298

Permits cultivation of industrial hemp in Illinois under a Department of Agriculture license, defining industrial hemp as Cannabis sativa L. with no more than 0.3% delta-9 tetrahydrocannabinol (THC) on a dry weight basis.

Requires license applicants to provide their name and address, legal description of land with GPS coordinates, and if required by federal law, a description of research purposes (which does not limit commercial sale).

Requires persons processing industrial hemp to register with the Department of Agriculture on a prescribed form.

Establishes the Industrial Hemp Regulatory Fund to collect and utilize all fees and fines from licensing for implementation, administration, and enforcement of the Act.

Exempts industrial hemp from Illinois's Noxious Weed Law and Cannabis Control Act definitions, provided it complies with federal law and the Industrial Hemp Act requirements.