The HEMP Act of 2024 modifies federal regulations governing hemp production by increasing the legal threshold for delta-9 THC content from 0.3 percent to 1 percent on a dry weight basis. This change affects hemp farmers, producers, and anyone transporting hemp products, effectively allowing cultivation of hemp plants with higher THC concentrations. The bill requires that people transporting hemp carry either a valid state or tribal license issued to the producer or laboratory documentation proving the hemp meets the new 1 percent THC limit, with testing methods that have a measurement uncertainty no greater than 0.075 percent. The Secretary of Agriculture must update federal regulations within 90 days of the bill's enactment to align with these changes. The legislation aims to expand economic opportunities in the hemp industry by creating more flexible growing standards.