,,ii  #aaith ,,congress  #ast ,session  
,s4 #dga  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #f        
7legislative day1 ,february #e71        
#bjbe,mr4 ,lankford 7for himself and    
,mr4 ,ricketts7 introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,finance  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to maintain the         
prohibition on allowing any deduction or
 credit associated with a trade or      
business involved in trafficking        
marijuana4  #a4 ,short title ,this ,act 
may be cited as the ,no ,deductions for 
,marijuana ,businesses ,act4  #b4       
,expenditures in connection with the    
sale of marijuana  7a7 ,in general      
,section #bhj;,e of the ,internal       
,revenue ,code of #aihf is amended to   
read as follows3  #bhj;,e4 ,expenditures
 in connection with the illegal sale of 
drugs ,no deduction or credit shall be  
allowed for any amount paid or incurred 
during the taxable year in carrying on  

any trade or business if such trade or  
business 7or the activities which       
comprise such trade or business7        
consists of trafficking in-- 7#a7       
marijuana 7as defined in section        
#ajb7af7 of the ,controlled ,substances 
,act 7#ba ,u4,s4,c4 #hjb7af7771 or  7#b7
 controlled substances 7within the      
meaning of schedule ,i and ,,ii of the  
,controlled ,substances ,act71  which is
 prohibited by ,federal law or the law  
of any ,state in which such trade or    
business is conducted4  4  7b7          
,effective date ,the amendment made by  
this section shall apply to amounts paid
 or incurred after the date of the      
enactment of this ,act in taxable years 
ending after such date4