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S. 471

U.S. Senate•In Senate Committee

Summary

S. 471, 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, was introduced in the Senate on Feb 6, 2025 by Sen. James Lankford (R) with 2 co-sponsors. It was referred to Finance, and last saw action on Feb 6, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 471 has 2 co-sponsors.

sb471/introduced-in-senate.txt
119 S471 IS: No Deductions for Marijuana Businesses Act
 U.S. Senate
 2025-02-06
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 471  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.
1.
Short title
This Act may be cited as the   No Deductions for Marijuana Businesses Act  .
2.
Expenditures in connection with the sale of marijuana
(a)
In general
 Section 280E  of the Internal Revenue Code of 1986 is amended to read as follows:
280E.
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 (or the activities which comprise such trade or business) consists of trafficking in—
(1)
marijuana (as defined in section 102(16) of the Controlled Substances Act ( 21 U.S.C. 802(16) )), or
(2)
controlled substances (within the meaning of schedule I and II of the Controlled Substances Act),
 which is prohibited by Federal law or the law of any State in which such trade or business is conducted.
 .
(b)
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 date.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-02-06
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

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.

Sponsors

Sen. James Lankford (R) sponsors S. 471, and 2 members have co-sponsored it, 1 of them from the day it was introduced.

Committees

S. 471 went before 1 committee: Finance.

Finance
Finance
Referred To · Feb 6, 2025 · 902 Bills

Actions

S. 471 has taken 2 actions since Feb 6, 2025.

ChamberAction
Feb 6, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
Feb 6, 2025
—
Introduced in Senate

Votes

S. 471 has not gone to a roll call.

1 bill is related to S. 471, as Identical bill.

Titles

S. 471 goes by 3 titles, 1 of them short titles.

  • No Deductions for Marijuana Businesses Act — Display Title
  • 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. — Official Title as Introduced
  • No Deductions for Marijuana Businesses Act — Short Title(s) as Introduced

Lobbying

3 clients hired 4 firms and 6 registered lobbyists who named S. 471 in 19 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Banking, Budget/Appropriations, Taxation/Internal Revenue Code, Law Enforcement/Crime/Criminal Justice, Agriculture, Homeland Security, Consumer Issues/Safety/Products.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
NATIONAL CANNABIS INDUSTRY ASSOCIATIONTrade association for legal cannabis businessesDistrict of Columbia27$10K
UNITED STATES CANNABIS ROUNDTABLEBusiness Trade AssociationIllinois16$225K
SAM ACTION, INC.—Virginia16—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
SAM ACTION, INC.16—
THE LIAISON GROUP, LLC16$225K
NATIONAL CANNABIS INDUSTRY ASSOCIATION15—
ERIN MOFFET12$10K

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
DAVID MANGONE116
JORDAN DAVIDSON116
RACHAEL GALOOB116
IMAN LOHRASBI115
MICHELLE RUTTER FRIBERG115
ERIN MOFFET112

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
SAM ACTION, INC.SAM ACTION, INC.2026 second_quarter$70K2nd Quarter - Report
SAM ACTION, INC.SAM ACTION, INC.2026 first_quarter$70K1st Quarter - Report
SAM ACTION, INC.SAM ACTION, INC.2025 fourth_quarter$70K4th Quarter - Report
SAM ACTION, INC.SAM ACTION, INC.2025 third_quarter$70K3rd Quarter - Report
SAM ACTION, INC.SAM ACTION, INC.2025 second_quarter$70K2nd Quarter - Report
SAM ACTION, INC.SAM ACTION, INC.2025 first_quarter$60K1st Quarter - Report
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2026 second_quarter$45K2nd Quarter - Report
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2026 first_quarter$45K1st Quarter - Report
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2025 fourth_quarter$45K4th Quarter - Report
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2025 third_quarter$45K3rd Quarter - Report
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2025 second_quarter$45K2nd Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONNATIONAL CANNABIS INDUSTRY ASSOCIATION2026 first_quarter$25K1st Quarter - Termina…
NATIONAL CANNABIS INDUSTRY ASSOCIATIONNATIONAL CANNABIS INDUSTRY ASSOCIATION2025 fourth_quarter$25K4th Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONNATIONAL CANNABIS INDUSTRY ASSOCIATION2025 third_quarter$25K3rd Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONNATIONAL CANNABIS INDUSTRY ASSOCIATION2025 second_quarter$25K2nd Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONNATIONAL CANNABIS INDUSTRY ASSOCIATION2025 first_quarter$25K1st Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONERIN MOFFET2026 second_quarter$10K2nd Quarter - Report
NATIONAL CANNABIS INDUSTRY ASSOCIATIONERIN MOFFET2026 first_quarter—Registration
UNITED STATES CANNABIS ROUNDTABLETHE LIAISON GROUP, LLC2025 first_quarter—1st Quarter - Report

Classification

The Congressional Research Service files S. 471 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 471’s is Taxation.

s471/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com