Yes, The fiber of hemp, a non-intoxicating derivative of the cannabis plant, is used to make a variety of products, such as cardboard, carpets, clothes, paper and more.

Hemp production and sales have historically been illegal under the same federal prohibition against marijuana. The farm bill only deals with industrial hemp and does not address recreational or medical marijuana.

Senate Majority Leader Mitch McConnell (R-Ky.) worked with Sens. Rand Paul (R-Ky.), Jeff Merkley (D-Ore.) and Ron Wyden (D-Ore.) to introduce a bill to legalize hemp, which was ultimately included in the farm bill.

The farm bill helps removes obstacles farmers face in growing hemp, including restricted access to banking, water rights and crop insurance. Hemp is easier to grow than cotton, corn or soybeans as it requires little water and can be viable in lower-quality soil that is not practical for other crops.

WASHINGTON — Farm legislation breezing through Congress could make northern Colorado the nation’s leader in the cultivation, study and use of industrial hemp.

The farm bill provision authored by Rep. Jared Polis, D-Colo., and Reps. Thomas Massie, R-Ky., and Earl Blumenauer, D-Ore., would allow colleges, universities and state agriculture agencies to grow and do research on the crop without being penalized by the federal government.

Full Article: http://www.usatoday.com/story/news/politics/2014/01/29/hemp-cultivation/5039263/