I 112th CONGRESS 1st Session H. R. 722 IN THE HOUSE OF REPRESENTATIVES February 15, 2011 Mr. Nadler introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to deny any deduction for direct-to-consumer advertisements of prescription drugs.

1.

Short title

This Act may be cited as the Say No to Drug Ads Act.

2.

Disallowance of deduction for direct-to-consumer advertisement of prescription drugs

(a)

General rule

Part IX of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to items not deductible) is amended by adding at the end the following new section:

280I.

Direct-to-consumer advertisement of prescription drugs

No deduction shall be allowed under this chapter for any amount paid or incurred for a direct-to-consumer advertisement of a prescription drug.

. (b)

Clerical amendment

The table of sections for part IX of subchapter B of chapter 1 of such Code is amended by adding at the end thereof the following new item: Sec. 280I. Direct-to-consumer advertisement of prescription drugs. . (c)

Effective date

The amendments made by this section shall apply to amounts paid or incurred after December 31, 2011.