Title: Directing the Clerk of the House of Representatives to make corrections in the enrollment of H.R. 1.
Policy area: Taxation

Summary:
Directs the Clerk of the House of Representatives to make corrections in the enrollment of H.R. 1 (Tax Cuts and Jobs Act) to add a new subtitle that includes specified provisions regarding: (1) an expansion of the limitation on deductions for lobbying expenditures, (2) a tax exemption for the production of kombucha, (3) an exclusion from gross income for certain gains from the sale or exchange of virtual currency, (4) and deductions and credits for expenditures in connection with marijuana sales conducted in compliance with state law.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 97 Introduced in House (IH)]

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115th CONGRESS
  1st Session
H. CON. RES. 97

Directing the Clerk of the House of Representatives to make corrections 
                      in the enrollment of H.R. 1.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 18, 2017

  Mr. Polis submitted the following concurrent resolution; which was 
  referred to the Committee on Ways and Means, and in addition to the 
  Committee on House Administration, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
Directing the Clerk of the House of Representatives to make corrections 
                      in the enrollment of H.R. 1.

    Resolved by the House of Representatives (the Senate concurring), 
That in the enrollment of the bill H.R. 1, the Clerk of the House of 
Representatives shall add at the end of title I the following new 
subtitle:

                      ``Subtitle E--Miscellaneous

``SEC. 15001. EXPANSION OF LIMITATION ON DEDUCTIONS FOR EXPENDITURES 
              FOR LOBBYING CONGRESS.

    ``(a) In General.--Section 162(e) is amended in paragraph (1)(D), 
by inserting `, or with a Senator, a Representative in, or a Delegate 
or Resident Commissioner to, the Congress (or a senior staff member for 
such Senator, Representative, Delegate, or Resident Commissioner),' 
after `executive branch official'.
    ``(b) Effective Date.--The amendments made by this section shall 
apply with respect to amounts paid or incurred after December 31, 
2017.''.

                    tax-free production of kombucha

    Sec. 15002. 
    (a) Exception From Definition of Brewer.--Subsection (d) of section 
5052 of the Internal Revenue Code of 1986 is amended to read as 
follows:
    ``(d) Brewer.--
            ``(1) In general.--For purposes of this chapter, the term 
        `brewer' means any person who brews beer or produces beer for 
        sale.
            ``(2) Exception.--The term `brewer' shall not include any 
        person who--
                    ``(A) produces only beer exempt from tax under 
                subsection (e) of section 5053, or
                    ``(B) produces only kombucha exempt from tax under 
                subsection (i) of such section.''.
    (b) Exemption From Tax.--Section 5053 of the Internal Revenue Code 
of 1986 is amended--
            (1) by redesignating subsection (i) as subsection (j); and
            (2) by inserting after subsection (h) the following new 
        subsection:
    ``(i) Production of Kombucha.--
            ``(1) In general.--Subject to regulation prescribed by the 
        Secretary, any person may, without payment of tax, produce 
        kombucha for consumption or sale.
            ``(2) Definition.--For purposes of this chapter, the term 
        `kombucha' means a beverage which--
                    ``(A) is fermented solely by a symbiotic culture of 
                bacteria and yeast,
                    ``(B) contains not more than 1.25 percent of 
                alcohol by volume,
                    ``(C) is sold or offered for sale as kombucha, and
                    ``(D) is derived from--
                            ``(i) sugar, malt or malt substitute, tea, 
                        or coffee, and
                            ``(ii) not more than 20 percent other 
                        wholesome ingredients.''.

                            virtual currency

    Sec. 15003. 
    (a) In General.--Part III of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by inserting after section 
139G (as added by this Act) the following new section:

``SEC. 139H. GAIN FROM SALE OR EXCHANGE OF VIRTUAL CURRENCY.

    ``(a) In General.--Gross income shall not include gain from the 
sale or exchange of virtual currency for other than cash or cash 
equivalents.
    ``(b) Limitation.--
            ``(1) In general.--The amount of gain excluded from gross 
        income under subsection (a) with respect to a sale or exchange 
        shall not exceed $600.
            ``(2) Aggregation rule.--For purposes of this subsection, 
        all sales or exchanges which are part of the same transaction 
        (or a series of related transactions) shall be treated as one 
        sale or exchange.
    ``(c) Virtual Currency.--For purposes of this section, the term 
`virtual currency' means a digital representation of value that is used 
as a medium of exchange and is not otherwise currency under section 
988.
    ``(d) Inflation Adjustment.--In the case of any taxable year 
beginning in a calendar year after 2018, the dollar amount in 
subsection (b) shall be increased by an amount equal to--
            ``(1) such dollar amount, multiplied by
            ``(2) the cost-of-living adjustment determined under 
        section 1(f)(3) for the calendar year in which the taxable year 
        begins, determined by substituting `calendar year 2017' for 
        `calendar year 1992' in subparagraph (B) thereof.
Any increase determined under the preceding sentence shall be rounded 
to the nearest multiple of $50.''.
    (b) Clerical Amendment.--The table of sections for part III of 
subchapter B of chapter 1 of such Code is amended by inserting after 
the item relating to section 139F the following new item:

``Sec. 139H. Gain from sale or exchange of virtual currency.''.
    (c) Reporting of Gains or Losses.--The Secretary shall issue 
regulations providing for information returns on virtual currency 
transactions for which gain or loss is recognized.
    (d) Effective Date.--The amendments made by this section shall 
apply with respect to transactions entered into after December 31, 
2017.

    allowance of deductions and credits relating to expenditures in 
 connection with marijuana sales conducted in compliance with state law

    Sec. 15004. 
    (a) In General.--Section 280E is amended by inserting before the 
period at the end the following: ``, unless such trade or business 
consists of marijuana sales conducted in compliance with State law''.
    (b) Effective Date.--The amendment made by this section shall apply 
with respect to taxable years ending after the date of the enactment of 
this Act.
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