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H.R. 1786 (116th): To amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands and to transfer a portion of such cover over to the Puerto Rico Conservation Trust Fund.


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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 14, 2019.


This bill repeals the limitation on the amount of distilled spirits excise taxes covered over (paid) to the treasuries of the Virgin Islands and Puerto Rico. The bill also requires the Department of the Treasury to transfer a portion of the amount required to be covered over to Puerto Rico to the Puerto Rico Conservation Trust Fund.