H.R. 2312: Aged Distilled Spirits Competitiveness Act

113th Congress, 2013–2015. Text as of Jun 11, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

I

113th CONGRESS

1st Session

H. R. 2312

IN THE HOUSE OF REPRESENTATIVES

June 11, 2013

(for himself, Mr. Guthrie, Mr. Rogers of Kentucky, Mr. Whitfield, Mr. Yarmuth, and Mr. Massie) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To exempt the natural aging process in the determination of the production period for distilled spirits under section 263A of the Internal Revenue Code of 1986.

1.

Short title

This Act may be cited as the Aged Distilled Spirits Competitiveness Act .

2.

Exemption of natural aging process in determination of production period for distilled spirits under section 263A

(a)

In general

Section 263A(f) of the Internal Revenue Code of 1986 (relating to general exceptions) is amended by adding at the end the following new paragraph:

(5)

Exemption of natural aging process in determination of production period for distilled spirits

For purposes of this subsection, the production period for distilled spirits shall be determined without regard to any period allocated to the natural aging process.

.

(b)

Effective date

The amendment made by this section shall apply to production periods beginning after the date of the enactment of this Act.