An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in corporate net income tax, further providing for definitions.

This bill amends Pennsylvania's Tax Reform Code to create a specific tax deduction for medical cannabis businesses. It allows these businesses to deduct ordinary and necessary expenses from their taxable income if they did not claim those same expenses on their federal tax returns. The provision applies to companies holding active grower, processor, or dispensary permits issued by the state Department of Health. The new rule will take effect 60 days after enactment and applies to tax years starting after December 31, 2024.