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Marijuana Revenue and Regulation Act

Introduced: February 7, 2019 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 7, 2019
Read twice and referred to the Committee on Finance.
Feb 7, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Marijuana Revenue and Regulation Act

This bill removes marijuana from the list of controlled substances and establishes requirements for the taxation and regulation of marijuana products.

The bill imposes (1) an excise tax on marijuana products produced in or imported into the United States, and (2) an occupational tax on marijuana production facilities and export warehouses.

The term "marijuana product" does not include (1) any article containing marijuana that has been approved by the Food and Drug Administration (FDA) for sale for therapeutic purposes and is marketed and sold solely for such purpose, or (2) industrial hemp.

The excise tax includes exemptions for (1) products used for research or by government entities for nonconsumption purposes; and (2) the transfer of products between production, import, and export facilities.

The Department of Justice must remove marijuana from all schedules of controlled substances under the Controlled Substances Act. The bill prohibits marijuana from being shipped or transported into any state or jurisdiction where it is illegal.

Producers, importers, and exporters of marijuana products must (1) obtain a permit from the Department of the Treasury, and (2) comply with certain requirements regarding recordkeeping, packaging, labeling, and advertising.

The bill also

  • establishes penalties for violations of marijuana laws;
  • prohibits the sale of more than one ounce of marijuana in any single retail transaction; and
  • provides specified authorities to the FDA and the Bureau of Alcohol, Tobacco, Firearms, and Explosives with respect to marijuana.
What's happening now February 7, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1