Under this new law, farmers who wish to grow hemp must simply file some paperwork with the Secretary of Agriculture, Food and Markets, and maintain a 0.3% or lower THC content in the hemp they cultivate. The secretary may require a registration fee, but the maximum they can issue is $25 a year. Unlike most other state hemp laws, this proposal allows farmers to begin cultivation prior to a federal law change.
With this law taking effect, Vermont joins Washington and Colorado which allow hemp cultivation before the feds end their prohibition. Obviously those who decide to cultivate hemp will be violating federal law and putting themselves at risk of prosecution, but they would no longer risk state-level charges.
This opens up a market for these states which, according to congressional research, consists of over 25,000 various products; the same research found that America imports nearly half a billions worth of hemp products from other countries, while maintaining the illegality of its cultivation.
Source: The Joint Blog