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Three pro-marijuana bills introduced in Congress today

Written on June 02, 2011 by Scott Kersgaard, The Colorado Independent, 5/25/11 in NCIA IN THE NEWS
Colorado Rep. Jared Polis and two other members of Congress today introduced bills to improve Americans’ access to medical marijuana.

A coalition of Republicans and Democrats today offered three bills that would ensure cannabis businesses are not discriminated against under tax and banking law, and change existing law to reflect the medical efficacy of marijuana. The bills were authored by Congressman Pete Stark (D-CA), Congressman Barney Frank (D-MA), and Polis.

“I am really happy to see these bills introduced today,” Aaron Smith, executive director of the National Cannabis Industry Association, told The Colorado Independent. “For the first time, we have members of Congress standing up for this industry. For the first time, we are seeing legislation pushed on behalf of these small business owners.”

Stark’s bill – the Small Business Tax Equity Act – would allow medical marijuana dispensaries to take the full range of business expense deductions on their federal tax returns, just like other legal businesses are permitted to do under the law. It is co-sponsored by Congressman Dana Rohrabacher (R-CA) and Congressman Ron Paul (R-TX), as well as Frank and Polis

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