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I
118TH CONGRESS
1ST SESSION H. R. 2643
To amend the Internal Revenue Code of 1986 to allow deductions and
credits relating to expenditures in connection with marijuana sales con-
ducted in compliance with State law.
IN THE HOUSE OF REPRESENTATIVES
APRIL 17, 2023
Mr. BLUMENAUER (for himself, Mr. DAVIS of Illinois, Mr. JOYCE of Ohio, Ms.
LEE of California, and Ms. MACE) 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 allow deduc-
tions 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 Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Small Business Tax
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Equity Act of 2023’’.
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•HR 2643 IH
SEC. 2. ALLOWANCE OF DEDUCTIONS AND CREDITS RELAT-
1
ING
TO
EXPENDITURES
IN
CONNECTION
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WITH MARIJUANA SALES CONDUCTED IN
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COMPLIANCE WITH STATE LAW.
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(a) IN GENERAL.—Section 280E of the Internal Rev-
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enue Code of 1986 is amended by inserting before the pe-
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riod at the end the following: ‘‘, unless such trade or busi-
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ness consists of marijuana sales conducted in compliance
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with State law’’.
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(b) EFFECTIVE DATE.—The amendment made by
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this section shall apply with respect to taxable years end-
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ing after the date of the enactment of this Act.
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Æ
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