AUSTIN, Texas -- Texas farmers will soon be able to cash in on a potential cash crop.

State lawmakers opened the legal doors for hemp farming in the state during the legislative session.

The new law legalizes hemp and hemp-like products, like CBD oil, as long as they contain trace amounts of THC. That's the psychoactive element in marijuana that makes people high.

While there's currently controversy about whether that makes it more difficult to prosecute people caught with small amounts of marijuana, Texas farmers are focused on getting ready to plant and harvest the possible new money crop.

Click the video link above to watch our interview with Texas Agriculture Commissioner Sid Miller, whose department will create a hemp plan.