IN SB0357

Establishes a new regulatory framework for industrial hemp production in Indiana under the state seed commissioner's administration, effective upon passage.

Defines industrial hemp as Cannabis sativa plants with tetrahydrocannabinol (THC) concentration not exceeding 0.3% on a dry weight basis or the federal limit under the Controlled Substances Act.

Requires growers and handlers to obtain state licenses through applications that include criminal background checks, field location information, and nonrefundable fees; licenses are valid for one year and nontransferable.

Authorizes the state seed commissioner to conduct audits and inspections (up to two per year unless authorized by search warrant) to ensure THC compliance and may detain or seize crops exceeding THC limits.

Exempts industrial hemp from Indiana's marijuana definition and directs all collected fees to Purdue University's treasurer for agricultural programs; requires state seed commissioner to obtain federal Drug Enforcement Agency permissions before January 1, 2015, before implementing the chapter.