President Biden has signed a stopgap funding bill that extends Farm Bill funding through September 2024.

The bill passed through the House on Tuesday and the Senate on Wednesday, and includes a one-year extension of the 2018 Farm Bill, which expired on Sept. 30. The Farm Bill, which is revisited every five years, has a budget of approximately half a trillion dollars.

The bill covers various aspects of the agricultural industry, including farm subsidies, crop insurance, conservation programs and nutrition assistance.

As a result, the extension of the Farm Bill ensures that 41 million participants in the Supplemental Nutrition Assistance Program (SNAP) will continue to receive benefits through next September.

If the extension was not passed, the result would have been some farm programs expiring at the end of the year.

In terms of the c-store industry, this extension especially affects the CBD market, making research, which is vital for the CBD industry, more accessible and funded.

The bill also included orphan programs, such as the Foundation for Food and Agriculture Research (FFAR), which will receive $37 million in 2024 for agricultural research.