GEORGETOWN, Ky. (LEX NEWS) — A federal law set to take effect Nov. 12 will reclassify many legal hemp products as Schedule I controlled substances, effectively banning them and leaving Kentucky hemp farmers in financial limbo.

Congress passed the measure to address concerns about children accessing intoxicating hemp products, but the law has already caused significant damage to farmers across the state.

Chuck Tackett grows hemp on his farm in Georgetown and said he's seeing a decline in product purchases.

"There's nobody buying right now, so we're sitting with last year's product, and there's a lot of labor involved in this. This is a hand planted crop," Tackett said.

Tackett's farm is storing more than 100,000 pounds of milled hemp — the remnants of last year's crop — with no buyers and no certainty about the future.

"I'd hate to have to destroy everything. That would really break my heart," Tackett said.

His only hope he said is is Congress passing the Lawful Hemp Protection Act, introduced by Rep. Andy Barr. The bipartisan bill would establish the first comprehensive federal regulatory framework for hemp products.

"If he can get that into play, I think we'll be good. I think things will come back. I don't think it'll be as strong as last year, but I think things will come back. Let's just hope that that happens. But right now, we're kind of dead in the water," Tackett said.

The uncertainty has already reshaped the industry. About 70% of farmers who had been growing hemp chose not to plant this year, according to Tackett. Those who did scaled back dramatically. Tackett said he is growing only about 10% of what he would normally grow.

With November approaching, Tackett said time is running out.

"If nothing happens and November rolls around and nothing takes place, it's going to be a long winter," Tackett said.

According to Barr's office, the Lawful Hemp Protection Act sets consistent standards for cultivation, manufacturing, testing, and labeling, while prohibiting synthetic cannabinoids in finished hemp-derived products. It also supports American farmers by only allowing hemp grown, cultivated, and packaged in the United States. To further strengthen consumer protection and child safety, the bill limits retail sales of hemp-derived consumer products to people 21 years of age and older.

Karolina Buczek is committed to covering the stories that matter to you. If you have an idea, please reach out to Karolina at karolina.buczek@wlex.tv.