117 HR 9702 IH: 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. U.S. House of Representatives 2022-12-30 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.

I117th CONGRESS2d SessionH. R. 9702IN THE HOUSE OF REPRESENTATIVESDecember 30, 2022Ms. Mace introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo 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.

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.