Here are some notable stories and events to watch for in the coming days:
ASCENT LICENSE HEARING: Representatives of Canadian cannabis company Ascent Industries Corp. are scheduled to appear Wednesday before the Clark County Department of Business License to argue why its permits in Nevada should not be permanently suspended, revoked or non-renewed.
Sweet Cannabis, Ascent’s wholly owned subsidiary operating in Las Vegas, was found by the department to be in violation of its Master Marijuana License, the company said.
Specifically, the department cited three violations: A Sweet Cannabis-hosted cannabis consumption event in the H-1 Zone Resort Corridor in Las Vegas. Recordkeeping and inventory errors. A parent company license suspension by the Canadian federal agency Health Canada.
Sweet Cannabis can appeal the department’s decision if chooses and may also file a petition for judicial review by the District Court, Ascent said.
HEMP LENDING: The U.S. Farm Credit Administration (FCA) plans to issue guidance to Farm Credit System member institutions as soon as this week about lending to hemp farmers.
The agency, which regulates a network of financial institutions that lend money to farmers and ranchers, acknowledges there is “extreme interest” in hemp loans.
But FCA Chair Dallas Tonsager has warned lenders to make sure they understand the market.
The FCA was among four federal banking agencies to receive memos last week from U.S. Sens. Mitch McConnell, a Kentucky Republican, and Ron Wyden, an Oregon Democrat, to open financial services to the hemp industry because the plant is no longer a controlled substance.
ILLINOIS RULES REVIEW: The Illinois Joint Committee on Administrative Rules is scheduled to convene Tuesday to review the proposed rules for the state’s Industrial Hemp Act.
Bill Bodine, associate director for state legislation at the Illinois Farm Bureau, told Quincy TV station KHQA he’s hopeful the licensing process will be