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S. 375 (114th): Small BREW Act

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The text of the bill below is as of Feb 4, 2015 (Introduced).

II

114th CONGRESS

1st Session

S. 375

IN THE SENATE OF THE UNITED STATES

February 4, 2015

(for himself, Ms. Collins, Ms. Baldwin, Mr. Cochran, Mr. Blumenthal, Mr. Kirk, Mr. Carper, Ms. Murkowski, Mr. Casey, Mr. Portman, Ms. Cantwell, Mr. Coons, Mr. Heinrich, Ms. Hirono, Mr. King, Mr. Leahy, Mr. Markey, Mr. Menendez, Mr. Merkley, Ms. Mikulski, Mr. Murphy, Mr. Sanders, Mr. Schumer, Mr. Wyden, and Ms. Klobuchar) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to provide a reduced rate of excise tax on beer produced domestically by certain qualifying producers.

1.

Short title

This Act may be cited as the Small Brewer Reinvestment and Expanding Workforce Act or as the Small BREW Act.

2.

Reduced rate of excise tax on beer produced domestically by certain qualifying producers

(a)

In general

Paragraph (2) of section 5051(a) of the Internal Revenue Code of 1986 is amended—

(1)

by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively, and

(2)

by striking subparagraph (A) and inserting the following new subparagraphs:

(A)

In general

In the case of a brewer who produces not more than 6,000,000 barrels of beer during the calendar year, the per barrel rate of tax imposed by this section shall be—

(i)

$3.50 on the first 60,000 qualified barrels of production, and

(ii)

$16 on the first 1,940,000 qualified barrels of production to which clause (i) does not apply.

(B)

Qualified barrels of production

For purposes of this paragraph, the term qualified barrels of production means, with respect to any brewer for any calendar year, the number of barrels of beer which are removed in such year for consumption or sale and which have been brewed or produced by such brewer at qualified breweries in the United States.

.

(b)

Conforming amendments

(1)

Subparagraph (C) of section 5051(a)(2) of such Code, as redesignated by this section, is amended—

(A)

by striking 2,000,000 barrel quantity and inserting 6,000,000 barrel quantity, and

(B)

by striking 60,000 barrel quantity and inserting 60,000 and 1,940,000 barrel quantities.

(2)

Subparagraph (D) of such section, as so redesignated, is amended by striking 2,000,000 barrels and inserting 6,000,000 barrels.

(c)

Effective date

The amendments made by this section shall apply to beer removed during calendar years beginning after the date of the enactment of this Act.