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Enclosed please find the corrected transcript. I am also including a copy of the proposed legislation which was provided to the Committee staff on the day of my testimony.
Thank you very much for your courtesy, efficiency and cooperation.
IN THE HOUSE OF REPRESENTATIVES
introduced the following bill; which was referred to the Committee on
To amend the Internal Revenue Code to tax and regulate the interstate and foreign commerce in Cannabis, to amend the Controlled Substances Act to delete marijuana and for other purposes.
BE IT ENACTED by the Senate and House of Representatives of the United States of America in Congress assembled,
That Title 26 of the United States Code is amended by inserting following Chapter 53 a new chapter to read as follows:
TITLE 26, UNITED STATES CODE
CHAPTER 54, CANNABIS
A. Short title; statement of policy; definitions.
5901. Short title
5921. Unlawful businessess
5924. Commercial cultivation, possession and trading of cannabis
5931. Imposition of tax
Credit, refund or allowance of tax
branded as required by law
or property intended to be used in violating
STATEMENT OF POLICY:
SUBCHAPTER A - SHORT TITLE:
Short title. This chapter shall be called The Cannabis Revenue Act of 1983.
5902. Statement of policy. It is the policy of Congress and the purpose of this chapter to establish a comprehensive federal program to regulate the commerce in cannabis in the United States whereby
the abuse of cannabis is diminished;
the use of cannabis by children is curtailed;
(c) the public health is protected by regulating the purity of cannabis in commerce;
(d) illegal trafficking in cannabis is eliminated; (e) the commerce in cannabis is taxed sufficiently to generate revenue commensurate to its place in the national economy ;
(f) national resources shall no longer be diverted to ineffective law enforcement efforts regarding cannabis;
medical research concerning cannabis is encouraged; and
ch) barriers to the development of a domestic hemp industry are removed.
(a) The term "cultivation" as used in this chapter means the propagation, nurture or harvest of cannabis.
(b) The term "processing" as used in this chapter means the importing, cleaning, testing, preparation, packaging or labelling of cannabis for sale. (c) The term "cannabis" as used in this chapter means any part of the plant Cannabis sativa L. or any species thereof, including Cannabis indica, Cannabis ruderalis, or any other variety of the species Cannabis sativa L. whether growing or not; the seeds thereof, and resin extracted from any part of the plant, its seeds or regin. The term does not include the mature stalks of the plant, fiber produced from the stalks, oil or cake made from the seeds of the plant, any other compound, manufacture, salt derivative, mixture or preparation of the mature stalks except the resin extracted therefrom, flber, oil or cake or the sterilized seed of the plant which is incapable of germination. (d) The term "trade" as used in this chapter means the sale, transfer, exportation, or distribution for any kind of consideration, of cannabis, whether by wholesale or retail and includes speculation, or trading in contracts for future delivery or purchase of any quantity of cannabis. (e) The term "secretary" as used in this chapter means the Secretary of the Treasury.
(f) The term "commercial" as used in this chapter means of, or related to, a non-gratuitous exchange; or an exchange with consideration.
(g) The term "United States" as used in this chapter means the several States and Territories and the District of Columbia; the term "State" includes a Territory and the District of Columbia.
(h) The term "wholesale" as used in this chapter means the sale or transfer to a retailer, or sale or transfer for purposes other than human consumption.
(i) The term "purity" as used in this chapter means freedom from substances not indigenous to cannabis, except for water.
(j) The term "gratuitous" as used in this chapter means without consideration; non-commercial. Transfer of anything