A bill to amend the Internal Revenue Code of 1986 to maintain the prohibition on allowing any deduction or credit associated with a trade or business involved in trafficking marijuana.
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 3
- Latest action
- Feb 6, 2025
What it does
The bill would amend the Internal Revenue Code to permanently prohibit businesses involved in trafficking marijuana from claiming any tax deductions or credits for expenses related to their operations. It specifically targets businesses engaged in the sale of marijuana, which remains illegal under federal law, by reinforcing Section 280E of the tax code that disallows tax benefits for illegal drug trafficking activities. The change would apply to expenses incurred after the bill’s enactment, affecting marijuana businesses in states where such activity is legal under state law but still prohibited federally. The bill does not legalize marijuana but ensures no federal tax advantages are…
AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.