No Deductions for Marijuana Businesses Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 471 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 471 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 THE SENATE OF THE UNITED STATES February 6 (legislative day, February 5), 2025 Mr. Lankford (for himself and Mr. Ricketts) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Deductions for Marijuana Businesses Act''. SEC. 2. EXPENDITURES IN CONNECTION WITH THE SALE OF MARIJUANA. (a) In General.--Section 280E of th…