Virginia Bill Would Eliminate State Conformity with IRS Section 280E for Marijuana Businesses

A bill filed in the Virginia House eliminate the state’s conformity with Internal Revenue Code (IRC) Section 280E. The enactment of this provision would represent a small, but important state tax relief for marijuana businesses despite ongoing federal cannabis prohibition.

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Tennessee Bill Would Create State Bullion Depository

The legislation would establish a state bullion depository that could operate either “exclusively or non-exclusively” as a precious metals depository to “serve as the custodian, guardian, and administrator of certain bullion and specie that may be deposited with the depository by this state, a political subdivision, or another instrumentality of this state, or by a private individual, party, or other entity.”

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Colorado Bill Would Take on Federal Gun Control; Past, Present, and Future

Titled the “Second Amendment Preservation Act,” (SAPA) the legislation would ban any entity or person, including any public officer or employee of the state and its political subdivisions, from enforcing any past, present or future federal “acts, laws, executive orders, administrative orders, court orders, rules, regulations, statutes, or ordinances” that infringe on the right to keep and bear arms.

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New Hampshire Bills Would Legalize Marijuana, Ban Enforcement of Federal Prohibition

A bill introduced in the New Hampshire House would legalize the adult use of marijuana, and ban the state from participating in the enforcement of federal prohibition on the same.

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New York Bill Would End Civil Asset Forfeiture and Opt State Out of Federal Forfeiture Program

The legislation would replace the state’s civil asset forfeiture process with a criminal process – and opt out of much of the federal program as well.

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