Use for industrial hemp cultivation— Notwithstanding the Controlled Substances Act (
21 U.S.C. 801 et seq.), chapter 81 of title 41, United States Code, or any other Federal law, an owner of an absolute or conditional water right, or an entity that receives or distributes water contracted from the Federal Government, may use or sell for use by another person the water subject to the water right or the contract, as applicable, for the cultivation of industrial hemp, regardless of whether the water has passed through a Federal water project, if the growth or cultivation of industrial hemp is otherwise authorized under the laws of the State in which such use occurs.