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HR 722 IH
112th CONGRESS
1st Session
H. R. 722
To amend the Internal Revenue Code of 1986 to deny any deduction for direct-to-consumer advertisements of prescription drugs.
IN THE HOUSE OF REPRESENTATIVES
February 15, 2011
Mr. NADLER introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to deny any deduction for direct-to-consumer advertisements of prescription drugs.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. DISALLOWANCE OF DEDUCTION FOR DIRECT-TO-CONSUMER ADVERTISEMENT OF PRESCRIPTION DRUGS.
(a) General Rule- Part IX of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to items not deductible) is amended by adding at the end the following new section:
‘SEC. 280I. DIRECT-TO-CONSUMER ADVERTISEMENT OF PRESCRIPTION DRUGS.
‘No deduction shall be allowed under this chapter for any amount paid or incurred for a direct-to-consumer advertisement of a prescription drug.’.
(b) Clerical Amendment- The table of sections for part IX of subchapter B of chapter 1 of such Code is amended by adding at the end thereof the following new item:
(c) Effective Date- The amendments made by this section shall apply to amounts paid or incurred after December 31, 2011.
U.S. Congress - Text of H.R.722 as Introduced in House Say No to Drug Ads Act
