Section 1 Short title
This Act may be cited as the “No Tax Breaks for Drug Ads Act”.
No Tax Breaks for Drug Ads Act
A BILL
To amend the Internal Revenue Code of 1986 to deny any deduction for advertising prescription drugs.
Sec. 2 Denial of deduction for advertising prescription drugs
In general— 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:
“280I. Denial of deduction for advertising prescription drugs
“(a) In general—No deduction shall be allowed under this chapter with respect to—
“(1) any advertisement primarily for purposes of promoting the sale or use of any prescribed drug (as defined in section 213(d)(3)), and
“(2) any of the following incurred or provided primarily for purposes described in paragraph (1):
“(A) Travel expenses (including meals and lodging).
“(B) Goods or services of a type generally considered to constitute entertainment, amusement, or recreation or the use of a facility in connection with providing such goods and services.
“(C) Gifts.
“(D) Other promotion expenses.
“(b) Regulations—The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section.”
Clerical amendment— The table of sections for such part IX is amended by adding at the end the following new item:
Effective date— The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act in taxable years ending after such date.