US HB1118 | 2019-2020 | 116th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 11-2)
Status: Introduced on February 8 2019 - 25% progression, died in committee
Action: 2019-02-08 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 8 2019 - 25% progression, died in committee
Action: 2019-02-08 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Exempts a trade or business that conducts marijuana sales in compliance with state law from a provision in the Internal Revenue Code that prohibits business-related tax credits or deductions for expenditures in connection with trafficking in controlled substances.
Title
Small Business Tax Equity Act of 2019
Sponsors
Rep. Earl Blumenauer [D-OR] | Rep. Matt Gaetz [R-FL] | Rep. David Joyce [R-OH] | Rep. Ed Perlmutter [D-CO] |
Rep. Peter DeFazio [D-OR] | Rep. Harley Rouda [D-CA] | Rep. Jared Golden [D-ME] | Rep. Salud Carbajal [D-CA] |
Rep. Joseph Neguse [D-CO] | Rep. Kendra Horn [D-OK] | Rep. Steven Horsford [D-NV] | Rep. Angela Craig [D-MN] |
Rep. Jimmy Panetta [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2019-02-08 | House | Referred to the House Committee on Ways and Means. |
2019-02-08 | House | Introduced in House |
Same As/Similar To
SB422 (Same As) 2019-02-07 - Read twice and referred to the Committee on Finance.
HB1119 (Related) 2019-03-14 - Referred to the Subcommittee on Health.
SB421 (Related) 2019-02-07 - Read twice and referred to the Committee on Finance.
HB1119 (Related) 2019-03-14 - Referred to the Subcommittee on Health.
SB421 (Related) 2019-02-07 - Read twice and referred to the Committee on Finance.
Subjects
Alternative treatments
Business investment and capital
Drug trafficking and controlled substances
Income tax credits
Income tax deductions
Retail and wholesale trades
Taxation
Business investment and capital
Drug trafficking and controlled substances
Income tax credits
Income tax deductions
Retail and wholesale trades
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/1118/all-info |
Text | https://www.congress.gov/116/bills/hr1118/BILLS-116hr1118ih.pdf |