3.0.0 776 2023-01-11T13:36:11Z 2023-01-11T13:36:11Z Senate S 2017-03-30 115 ssfi00 Finance Committee Senate Standing Referred to 2017-03-30T15:53:59Z Marijuana Revenue and Regulation Act 115 1823 HR 2017-03-30 Referred to the House Committee on Ways and Means. Related bill CRS Regulate Marijuana Like Alcohol Act 115 1841 HR 2017-04-24 Referred to the Subcommittee on Conservation and Forestry. Related bill CRS 2017-03-30 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-03-30 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N Taxation Administrative law and regulatory procedures Administrative remedies Civil actions and liability Congressional oversight Consumer affairs Department of Justice Department of the Treasury Drug Enforcement Administration (DEA) Drug trafficking and controlled substances Drug, alcohol, tobacco use Executive agency funding and structure Fraud offenses and financial crimes Government studies and investigations Judicial review and appeals Licensing and registrations Marketing and advertising Retail and wholesale trades Sales and excise taxes Tax administration and collection, taxpayers Trade restrictions Taxation 00 2017-03-30 Introduced in Senate 2017-06-26T18:35:58Z Marijuana Revenue and Regulation Act

This bill removes marijuana from the list of controlled substances and establishes requirements for the taxation and regulation of marijuana products.

The bill amends the Internal Revenue Code to impose: (1) an excise tax on any marijuana product produced in or imported into the United States, and (2) an occupational tax on marijuana production facilities and export warehouses.

The term "marijuana product" does not include: (1) any article containing marijuana which has been approved by the Food and Drug Administration for sale for therapeutic purposes and is marketed and sold solely for such purpose, or (2) industrial hemp

The excise tax includes exemptions for: (1) products that are used for research or by government entities for nonconsumption purposes; and (2) the transfer of products between production, import, and export facilities. A credit or refund of the tax must be issued for products that are withdrawn from the market, lost, or destroyed.

The Department of Justice must remove marijuana from all schedules of controlled substances under the Controlled Substances Act (CSA). The bill amends the CSA to require penalties for shipping or transporting marijuana into any state or jurisdiction where it is illegal.

The bill requires producers, importers, and exporters of marijuana products to:

  • obtain a permit and a bond covering tax liability from the Department of the Treasury prior to beginning operations;
  • meet recordkeeping requirements; and
  • comply with certain policies and restrictions regarding packaging, labeling, and advertising.

The bill also:

  • establishes penalties for violations of marijuana laws;
  • prohibits the sale of more than one ounce of marijuana in any single retail transaction; and
  • provides specified authorities to the Food and Drug Administration and the Bureau of Alcohol, Tobacco, Firearms, and Explosives with respect to marijuana.
]]> Marijuana Revenue and Regulation Act Display Title Marijuana Revenue and Regulation Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for the taxation and regulation of marijuana products, and for other purposes. Introduced in Senate IS Short Titles as Introduced Marijuana Revenue and Regulation Act Introduced in Senate 2017-03-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s776is/xml/BILLS-115s776is.xml 2017-03-30 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.