[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9702 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 9702

  To amend the Internal Revenue Code of 1986 to allow deductions and 
  credits relating to expenditures in connection with marijuana sales 
                conducted in compliance with State law.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 30, 2022

   Ms. Mace introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to allow deductions and 
  credits relating to expenditures in connection with marijuana sales 
                conducted in compliance with State law.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ALLOWANCE OF DEDUCTIONS AND CREDITS RELATING TO EXPENDITURES 
              IN CONNECTION WITH MARIJUANA SALES CONDUCTED IN 
              COMPLIANCE WITH STATE LAW.

    (a) In General.--Section 280E of the Internal Revenue Code of 1986 
is amended by inserting before the period at the end the following: ``, 
unless such trade or business consists of marijuana sales conducted in 
compliance with State law''.
    (b) Effective Date.--The amendment made by this section shall apply 
with respect to taxable years ending after the date of the enactment of 
this Act.
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